Creative Planning Has $2.57 Million Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Posted by Defense World Staff on Oct 11th, 2023

Creative Planning raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,798 shares of the insurance provider’s stock after acquiring an additional 2,098 shares during the quarter. Creative Planning’s holdings in Selective Insurance Group were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. boosted its holdings in Selective Insurance Group by 46.0% in the first quarter. Ronald Blue Trust Inc. now owns 740 shares of the insurance provider’s stock valued at $66,000 after acquiring an additional 233 shares during the last quarter. Spire Wealth Management grew its position in shares of 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 buying an additional 600 shares during the period. Covestor Ltd raised its stake in shares of 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 buying an additional 203 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Selective Insurance Group in the first quarter valued at approximately $114,000. Finally, Private Advisor Group LLC bought a new position in Selective Insurance Group in the first quarter valued at approximately $201,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $297,421.44. Following the completion of the transaction, the chief executive officer now directly owns 141,460 shares of the company’s stock, valued at $14,137,512.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 980 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $101.86, for a total transaction of $99,822.80. Following the transaction, the director now owns 19,766 shares of the company’s stock, valued at $2,013,364.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John J. Marchioni sold 2,976 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $99.94, for a total value of $297,421.44. Following the completion of the sale, the chief executive officer now directly owns 141,460 shares of the company’s stock, valued at $14,137,512.40. The disclosure for this sale can be found here. Insiders have sold 6,976 shares of company stock valued at $703,804 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $101.94 on Wednesday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 0.80 and a beta of 0.59. Selective Insurance Group, Inc. has a 12 month low of $84.47 and a 12 month high of $106.54. The firm has a fifty day simple moving average of $101.68 and a 200 day simple moving average of $99.34. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.20.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Selective Insurance Group had a net margin of 7.15% and a return on equity of 12.83%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. Research analysts forecast that Selective Insurance Group, Inc. will post 6.11 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, August 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 27.03%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler dropped their target price on shares of Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, October 6th. BMO Capital Markets lifted their price objective on Selective Insurance Group from $90.00 to $93.00 in a report on Wednesday, June 14th. StockNews.com initiated coverage on shares of Selective Insurance Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada upped their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Finally, Bank of America raised their price objective on shares of Selective Insurance Group from $93.00 to $100.00 and gave the stock an “underperform” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.29.

Get Our Latest Analysis on Selective Insurance Group

Selective Insurance Group Profile

(Free Report)

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.