WINTON GROUP Ltd Buys 6,834 Shares of Selective Insurance Group, Inc. $SIGI

WINTON GROUP Ltd increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 102.6% during the third quarter, HoldingsChannel.com reports. The fund owned 13,497 shares of the insurance provider’s stock after purchasing an additional 6,834 shares during the period. WINTON GROUP Ltd’s holdings in Selective Insurance Group were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SIGI. Merit Financial Group LLC boosted its position in Selective Insurance Group by 4.0% during the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 129 shares during the period. Belpointe Asset Management LLC raised its position in shares of Selective Insurance Group by 1.8% in the third quarter. Belpointe Asset Management LLC now owns 8,559 shares of the insurance provider’s stock valued at $694,000 after purchasing an additional 149 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Selective Insurance Group by 2.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 6,962 shares of the insurance provider’s stock worth $535,000 after buying an additional 160 shares during the period. Heritage Family Offices LLP boosted its holdings in shares of Selective Insurance Group by 5.0% during the 3rd quarter. Heritage Family Offices LLP now owns 3,789 shares of the insurance provider’s stock worth $307,000 after buying an additional 181 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Selective Insurance Group by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 17,965 shares of the insurance provider’s stock worth $1,456,000 after buying an additional 244 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $76.76 on Thursday. The firm has a market cap of $4.61 billion, a P/E ratio of 10.25 and a beta of 0.23. The firm’s 50-day simple moving average is $83.84 and its 200-day simple moving average is $81.23. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $93.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

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

Selective Insurance Group Announces Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on SIGI. Piper Sandler boosted their target price on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Royal Bank Of Canada initiated coverage on Selective Insurance Group in a research report on Monday, November 24th. They issued an “outperform” rating and a $95.00 price target on the stock. Morgan Stanley lifted their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods decreased their target price on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research note on Tuesday, January 6th. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.