Dimensional Fund Advisors LP Has $129.45 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Dimensional Fund Advisors LP lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,349,048 shares of the insurance provider’s stock after selling 10,453 shares during the period. Dimensional Fund Advisors LP owned 2.23% of Selective Insurance Group worth $129,445,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management grew its holdings in Selective Insurance Group by 576.9% during the 1st quarter. Spire Wealth Management now owns 704 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 600 shares during the period. Covestor Ltd increased its position in shares of Selective Insurance Group by 37.3% in the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock valued at $67,000 after buying an additional 203 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Selective Insurance Group during the 1st quarter worth $114,000. Private Advisor Group LLC bought a new position in Selective Insurance Group during the first quarter worth about $201,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in Selective Insurance Group in the first quarter valued at about $217,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In related news, CEO John J. Marchioni sold 20,906 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $102.01, for a total value of $2,132,621.06. Following the completion of the sale, the chief executive officer now directly owns 120,554 shares in the company, valued at approximately $12,297,713.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Selective Insurance Group news, CEO John J. Marchioni sold 2,976 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $99.94, for a total transaction of $297,421.44. Following the transaction, the chief executive officer now owns 141,460 shares of the company’s stock, valued at $14,137,512.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John J. Marchioni sold 20,906 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $102.01, for a total value of $2,132,621.06. Following the sale, the chief executive officer now owns 120,554 shares of the company’s stock, valued at approximately $12,297,713.54. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

SIGI has been the topic of several recent analyst reports. Piper Sandler cut their price objective on Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 6th. Oppenheimer began coverage on shares of Selective Insurance Group in a research report on Thursday, November 16th. They set an “outperform” rating and a $120.00 price objective for the company. StockNews.com initiated coverage on shares of Selective Insurance Group in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada increased their target price on Selective Insurance Group from $105.00 to $108.00 and gave the stock a “sector perform” rating in a report on Friday, November 3rd. Finally, Bank of America lifted their price target on Selective Insurance Group from $93.00 to $100.00 and gave the company an “underperform” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.14.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $101.02 on Tuesday. Selective Insurance Group, Inc. has a 52-week low of $84.47 and a 52-week high of $108.18. The company has a market cap of $6.12 billion, a P/E ratio of 19.43, a P/E/G ratio of 0.72 and a beta of 0.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day simple moving average is $103.47 and its 200 day simple moving average is $100.91.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Selective Insurance Group had a return on equity of 13.86% and a net margin of 7.97%. During the same period last year, the firm earned $0.99 EPS. As a group, sell-side analysts forecast that Selective Insurance Group, Inc. will post 5.9 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.30. Selective Insurance Group’s dividend payout ratio (DPR) is currently 26.92%.

Selective Insurance Group Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party; and flood insurance products.