62,683 Shares in Selective Insurance Group, Inc. $SIGI Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 62,683 shares of the insurance provider’s stock, valued at approximately $5,082,000. Lighthouse Investment Partners LLC owned approximately 0.10% of Selective Insurance Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Amundi boosted its position in shares of 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 acquiring an additional 311 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Selective Insurance Group by 5.5% in the 1st 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 buying an additional 11,167 shares during the period. Focus Partners Wealth increased its holdings in shares of Selective Insurance Group by 17.9% during the 1st quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock worth $248,000 after buying an additional 411 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Selective Insurance Group during the 2nd quarter worth approximately $468,000. Finally, Savant Capital LLC raised its position in shares of Selective Insurance Group by 73.9% during the 2nd quarter. Savant Capital LLC now owns 3,920 shares of the insurance provider’s stock valued at $340,000 after buying an additional 1,666 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Selective Insurance Group Price Performance

SIGI stock opened at $76.56 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.60 billion, a PE ratio of 10.22 and a beta of 0.23. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $93.38. The business’s fifty day moving average price is $83.38 and its 200 day moving average price is $81.22.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.Selective Insurance Group’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. On average, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 2.2%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.96%.

Selective Insurance Group 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.