Legal & General Group Plc Reduces Holdings in Selective Insurance Group, Inc. $SIGI

Legal & General Group Plc trimmed its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 93,580 shares of the insurance provider’s stock after selling 5,720 shares during the quarter. Legal & General Group Plc’s holdings in Selective Insurance Group were worth $7,830,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Merit Financial Group LLC boosted its stake in shares of Selective Insurance Group by 4.0% during the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 129 shares during the period. True Wealth Design LLC boosted its stake in shares of Selective Insurance Group by 45.9% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 129 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Selective Insurance Group by 38.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 154 shares during the period. First Horizon Corp boosted its stake in shares of Selective Insurance Group by 52.8% during the fourth quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 190 shares during the period. Finally, Choreo LLC boosted its stake in shares of Selective Insurance Group by 5.2% during the fourth quarter. Choreo LLC now owns 3,867 shares of the insurance provider’s stock valued at $327,000 after purchasing an additional 192 shares during the period. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $88.59 on Friday. The company has a market capitalization of $5.30 billion, a PE ratio of 12.12 and a beta of 0.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. The company has a 50-day simple moving average of $83.43 and a two-hundred day simple moving average of $82.39. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $91.65.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Research analysts expect that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 1.9%. Selective Insurance Group’s dividend payout ratio is 23.53%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Oppenheimer boosted their target price on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Piper Sandler boosted their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $84.00 to $97.00 in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Selective Insurance Group in a report on Monday, March 23rd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $91.67.

About Selective Insurance Group

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.