Selective Insurance Group, Inc. $SIGI Stock Position Lifted by Quantbot Technologies LP

Quantbot Technologies LP grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 28.0% during the third quarter, Holdings Channel.com reports. The firm owned 47,439 shares of the insurance provider’s stock after buying an additional 10,387 shares during the quarter. Quantbot Technologies LP’s holdings in Selective Insurance Group were worth $3,846,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SIGI. First Horizon Corp acquired a new stake in Selective Insurance Group in the third quarter worth about $29,000. Amundi increased its stake in Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after buying an additional 311 shares during the period. Rothschild Investment LLC raised its position in shares of Selective Insurance Group by 680.0% during the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock worth $44,000 after buying an additional 476 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Selective Insurance Group by 415.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock worth $73,000 after acquiring an additional 682 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Selective Insurance Group by 362.1% in the third quarter. Versant Capital Management Inc now owns 901 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 706 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Stock Up 0.3%

NASDAQ SIGI opened at $84.04 on Monday. The stock’s 50 day simple moving average is $84.51 and its 200 day simple moving average is $81.10. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $93.38. The firm has a market cap of $5.05 billion, a PE ratio of 11.22 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.33. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.96%.

Analysts Set New Price Targets

A number of research analysts recently commented on SIGI shares. Royal Bank Of Canada began coverage on shares of Selective Insurance Group in a research note on Monday, November 24th. They set an “outperform” rating and a $95.00 price objective on the stock. Piper Sandler lifted their price target on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods dropped their price objective on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 6th. Finally, Morgan Stanley raised their target price on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $83.00.

About Selective Insurance Group

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.