2,049 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,049 shares of the insurance provider’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Selective Insurance Group by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider’s stock worth $636,065,000 after purchasing an additional 41,639 shares during the last quarter. FMR LLC boosted its position in shares of Selective Insurance Group by 11.5% during the 3rd quarter. FMR LLC now owns 3,866,827 shares of the insurance provider’s stock worth $398,941,000 after acquiring an additional 398,517 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Selective Insurance Group by 4.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,040,488 shares of the insurance provider’s stock valued at $107,347,000 after acquiring an additional 44,968 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of Selective Insurance Group by 1.8% during the 4th quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock worth $97,791,000 after acquiring an additional 17,800 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Selective Insurance Group by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 923,764 shares of the insurance provider’s stock worth $95,305,000 after purchasing an additional 18,508 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a report on Friday, April 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Royal Bank of Canada dropped their price objective on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $105.17.

Selective Insurance Group Trading Up 1.3 %

Shares of Selective Insurance Group stock opened at $101.40 on Tuesday. Selective Insurance Group, Inc. has a 1 year low of $91.99 and a 1 year high of $109.58. The company has a market capitalization of $6.16 billion, a P/E ratio of 17.39, a PEG ratio of 0.74 and a beta of 0.55. The company’s fifty day moving average is $103.60 and its two-hundred day moving average is $102.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Analysts forecast that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, February 14th. Selective Insurance Group’s dividend payout ratio is presently 24.01%.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Selective Insurance Group Company 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 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; 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; and flood insurance products.