Vise Technologies Inc. Acquires Shares of 8,180 Selective Insurance Group, Inc. $SIGI

Vise Technologies Inc. acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,180 shares of the insurance provider’s stock, valued at approximately $794,000.

Other institutional investors have also recently made changes to their positions in the company. State of Wyoming raised its holdings in shares of Selective Insurance Group by 17.7% in the fourth quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 113 shares during the last quarter. Oak Associates Ltd. OH lifted its position in shares of Selective Insurance Group by 1.8% during the first quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider’s stock valued at $537,000 after purchasing an additional 125 shares in the last quarter. Merit Financial Group LLC boosted its holdings 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 last quarter. Daiwa Securities Group Inc. boosted its holdings in Selective Insurance Group by 5.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,518 shares of the insurance provider’s stock worth $294,000 after purchasing an additional 187 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Selective Insurance Group by 0.5% in the 1st quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider’s stock worth $2,699,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Insider Activity at Selective Insurance Group

In other news, EVP Michael H. Lanza sold 17,100 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following the transaction, the executive vice president owned 16,565 shares of the company’s stock, valued at $1,557,772.60. This represents a 50.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on SIGI. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective for the company. in a research note on Tuesday, July 28th. Weiss Ratings upgraded Selective Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Keefe, Bruyette & Woods upped their target price on Selective Insurance Group from $101.00 to $102.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Finally, Oppenheimer boosted their price objective on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.33.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $91.47 on Monday. Selective Insurance Group, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 11.35 and a beta of 0.30. The business has a 50-day moving average of $95.19 and a 200-day moving average of $87.47.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.29. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. During the same period in the prior year, the business earned $1.31 earnings per share. Sell-side analysts expect that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 17th. Selective Insurance Group’s payout ratio is currently 21.34%.

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.