Hsbc Holdings PLC Purchases New Holdings in Selective Insurance Group, Inc. $SIGI

Hsbc Holdings PLC acquired a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 37,066 shares of the insurance provider’s stock, valued at approximately $3,115,000.

Other large investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Selective Insurance Group in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new position in shares of Selective Insurance Group during the fourth quarter valued at $25,000. Amundi lifted its stake in shares of Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares during the period. True Wealth Design LLC boosted its holdings in Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Finally, First Horizon Corp boosted its holdings in Selective Insurance Group by 52.8% in the fourth quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Oppenheimer lifted their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Thursday, June 18th. 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 research note on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their price target on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Selective Insurance Group in a research note on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $91.67.

Selective Insurance Group Stock Performance

SIGI opened at $96.30 on Monday. The firm’s fifty day moving average is $87.75 and its two-hundred day moving average is $83.95. The firm has a market cap of $5.77 billion, a PE ratio of 13.17 and a beta of 0.32. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $97.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $1.76 EPS. Selective Insurance Group’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.81 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a yield of 1.8%. Selective Insurance Group’s payout ratio is currently 23.53%.

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.