Intech Investment Management LLC Has $3.19 Million Stock Holdings in Selective Insurance Group, Inc. $SIGI

Intech Investment Management LLC raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 27.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,856 shares of the insurance provider’s stock after acquiring an additional 8,002 shares during the period. Intech Investment Management LLC’s holdings in Selective Insurance Group were worth $3,194,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Parallel Advisors LLC lifted its position in shares of Selective Insurance Group by 219.5% during the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 248 shares in the last quarter. Amundi raised its stake in Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares during the period. Brooklyn Investment Group bought a new stake in shares of Selective Insurance Group during the first quarter worth $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Selective Insurance Group by 752.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock valued at $49,000 after buying an additional 474 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Selective Insurance Group by 58.7% during the 1st quarter. Signaturefd LLC now owns 673 shares of the insurance provider’s stock worth $62,000 after buying an additional 249 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Trading Up 0.9%

Shares of SIGI opened at $78.46 on Wednesday. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $103.56. The firm has a market capitalization of $4.74 billion, a P/E ratio of 12.09 and a beta of 0.39. The firm has a 50-day moving average price of $79.35 and a 200 day moving average price of $82.33. The company has a current ratio of 0.32, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. Selective Insurance Group’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.40 earnings per share. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 14th. Selective Insurance Group’s dividend payout ratio is currently 26.50%.

Analyst Upgrades and Downgrades

SIGI has been the topic of several research analyst reports. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, October 28th. Piper Sandler decreased their price objective on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. Finally, Morgan Stanley raised their target price on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $78.50.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.