Wellington Management Group LLP raised its position in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398,473 shares of the insurance provider’s stock after acquiring an additional 10,462 shares during the quarter. Wellington Management Group LLP’s holdings in Selective Insurance Group were worth $37,986,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ronald Blue Trust Inc. grew its stake in Selective Insurance Group by 46.0% in the 1st quarter. Ronald Blue Trust Inc. now owns 740 shares of the insurance provider’s stock valued at $66,000 after buying an additional 233 shares during the last quarter. Spire Wealth Management grew its stake in shares of Selective Insurance Group by 576.9% in the first quarter. Spire Wealth Management now owns 704 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 600 shares in the last quarter. Covestor Ltd increased its position in Selective Insurance Group by 37.3% during the first quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 203 shares during the period. CI Investments Inc. raised its stake in Selective Insurance Group by 112.3% in the 4th quarter. CI Investments Inc. now owns 830 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 439 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Selective Insurance Group in the 1st quarter valued at about $114,000. Institutional investors own 83.66% of the company’s stock.
Selective Insurance Group Stock Performance
Shares of Selective Insurance Group stock opened at $98.35 on Friday. The company’s 50 day moving average price is $99.41 and its two-hundred day moving average price is $98.38. The firm has a market capitalization of $5.96 billion, a P/E ratio of 22.15, a P/E/G ratio of 0.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.31 and a quick ratio of 0.31. Selective Insurance Group, Inc. has a fifty-two week low of $78.89 and a fifty-two week high of $105.54.
Selective Insurance Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, August 14th. Selective Insurance Group’s dividend payout ratio is currently 27.03%.
Insider Buying and Selling
In other news, CEO John J. Marchioni sold 2,976 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $99.94, for a total transaction of $297,421.44. Following the completion of the transaction, the chief executive officer now owns 141,460 shares of the company’s stock, valued at $14,137,512.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO John J. Marchioni sold 2,976 shares of Selective Insurance Group stock in a transaction on Friday, August 25th. The shares were sold at an average price of $99.94, for a total transaction of $297,421.44. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia S. Nicholson sold 3,020 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $101.51, for a total transaction of $306,560.20. Following the sale, the director now directly owns 16,746 shares in the company, valued at approximately $1,699,886.46. The disclosure for this sale can be found here. Insiders have sold a total of 6,976 shares of company stock worth $703,804 in the last ninety days. Company insiders own 1.50% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SIGI shares. BMO Capital Markets raised their target price on shares of Selective Insurance Group from $90.00 to $93.00 in a report on Wednesday, June 14th. Piper Sandler lifted their price objective on Selective Insurance Group from $102.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, July 25th. StockNews.com initiated coverage on Selective Insurance Group in a report on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America boosted 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. Finally, Royal Bank of Canada upped their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.86.
Read Our Latest Stock Analysis on Selective Insurance Group
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 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.
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