Renaissance Technologies LLC Buys 15,200 Shares of Selective Insurance Group, Inc. $SIGI

Renaissance Technologies LLC raised its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 15.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 112,494 shares of the insurance provider’s stock after purchasing an additional 15,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.19% of Selective Insurance Group worth $8,481,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Selective Insurance Group by 332.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 420,106 shares of the insurance provider’s stock valued at $31,672,000 after purchasing an additional 322,901 shares during the last quarter. Oak Associates Ltd. OH raised its stake in 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 worth $537,000 after buying an additional 125 shares during the last quarter. Systematic Financial Management LP lifted its holdings in Selective Insurance Group by 0.5% in the first quarter. Systematic Financial Management LP now owns 329,496 shares of the insurance provider’s stock valued at $24,841,000 after buying an additional 1,649 shares during the period. Cetera Investment Advisers lifted its holdings in Selective Insurance Group by 18.6% in the first quarter. Cetera Investment Advisers now owns 29,915 shares of the insurance provider’s stock valued at $2,255,000 after buying an additional 4,692 shares during the period. Finally, First Trust Advisors LP boosted its position in Selective Insurance Group by 33.3% during the first quarter. First Trust Advisors LP now owns 1,381,867 shares of the insurance provider’s stock valued at $104,179,000 after acquiring an additional 345,348 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have recently weighed in on SIGI shares. Royal Bank Of Canada lifted their price objective on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Morgan Stanley upped their target price on Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings raised Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 target price for the company. in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lifted their target price on Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and an average price target of $100.33.

Selective Insurance Group Trading Up 0.7%

NASDAQ SIGI opened at $95.42 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group, Inc. has a 52 week low of $72.78 and a 52 week high of $100.40. The business has a 50 day moving average price of $93.70 and a 200-day moving average price of $86.34. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 11.84 and a beta of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.51% and a net margin of 9.10%.During the same period last year, the business earned $1.31 EPS. As a group, equities analysts expect that Selective Insurance Group, Inc. will post 7.98 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th. Selective Insurance Group’s dividend payout ratio (DPR) is 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.