Legal & General Group Plc Sells 5,720 Shares of Selective Insurance Group, Inc. $SIGI

Legal & General Group Plc lowered its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,580 shares of the insurance provider’s stock after selling 5,720 shares during the period. Legal & General Group Plc owned 0.15% of Selective Insurance Group worth $7,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi grew its holdings in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Selective Insurance Group by 5.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock valued at $19,555,000 after purchasing an additional 11,167 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Selective Insurance Group by 17.9% in the first quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 411 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Selective Insurance Group in the second quarter valued at $468,000. Finally, Cetera Investment Advisers grew its holdings in shares of Selective Insurance Group by 14.1% in the second quarter. Cetera Investment Advisers now owns 3,749 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 3.0%

NASDAQ SIGI opened at $88.59 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $83.43 and a two-hundred day moving average of $82.39. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 12.12 and a beta of 0.32. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $91.65.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 earnings per share. On average, analysts predict that Selective Insurance Group, Inc. will post 7.81 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Selective Insurance Group’s payout ratio is presently 23.53%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SIGI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Oppenheimer raised their target price on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods raised their target price on shares of Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Piper Sandler raised their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Selective Insurance Group in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and a consensus price target of $91.67.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.