Handelsbanken Fonder AB Acquires 3,600 Shares of Selective Insurance Group, Inc. $SIGI

Handelsbanken Fonder AB boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 23.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,216 shares of the insurance provider’s stock after purchasing an additional 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in Selective Insurance Group were worth $1,665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SIGI. Hsbc Holdings PLC raised its holdings in shares of Selective Insurance Group by 1.7% in the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock valued at $922,000 after buying an additional 173 shares during the last quarter. Intech Investment Management LLC increased its position in Selective Insurance Group by 13.3% in the 1st quarter. Intech Investment Management LLC now owns 28,854 shares of the insurance provider’s stock valued at $2,641,000 after acquiring an additional 3,377 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Selective Insurance Group in the first quarter worth about $1,007,000. Arkadios Wealth Advisors acquired a new position in shares of Selective Insurance Group during the second quarter worth approximately $299,000. Finally, United Services Automobile Association bought a new stake in shares of Selective Insurance Group during the first quarter valued at approximately $355,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SIGI. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a report on Tuesday, October 28th. Royal Bank Of Canada began coverage on Selective Insurance Group in a research note on Monday. They issued an “outperform” rating and a $95.00 target price for the company. Morgan Stanley upped their price target on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Finally, Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.80.

Selective Insurance Group Stock Performance

SIGI stock opened at $79.42 on Thursday. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $103.56. The company has a quick ratio of 0.33, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.80 billion, a P/E ratio of 12.24 and a beta of 0.39. The business’s fifty day moving average is $79.36 and its 200-day moving average is $81.91.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Selective Insurance Group had a return on equity of 12.96% and a net margin of 7.78%.The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.43 dividend. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.2%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 26.50%.

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 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.