Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,980 shares of the insurance provider’s stock after acquiring an additional 1,289 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Selective Insurance Group were worth $1,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Headinvest LLC acquired a new position in shares of Selective Insurance Group in the third quarter valued at approximately $62,000. Morton Brown Family Wealth LLC acquired a new position in shares of Selective Insurance Group in the fourth quarter valued at approximately $82,000. Fifth Third Bancorp raised its position in shares of Selective Insurance Group by 12.3% in the third quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider’s stock valued at $121,000 after buying an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Selective Insurance Group by 15.3% in the third quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider’s stock valued at $177,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SIGI shares. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a research report on Friday, April 5th. Piper Sandler restated a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st. Keefe, Bruyette & Woods lowered their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th. Finally, Royal Bank of Canada lowered their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $105.17.

Selective Insurance Group Price Performance

SIGI opened at $101.70 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. Selective Insurance Group, Inc. has a 52-week low of $91.99 and a 52-week high of $109.58. The company has a 50 day moving average of $103.80 and a two-hundred day moving average of $102.78. The company has a market cap of $6.18 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.76 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. On average, analysts expect that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 annualized dividend and a yield of 1.38%. Selective Insurance Group’s dividend payout ratio is currently 24.01%.

Insider Activity

In other news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the transaction, the chief operating officer now directly owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

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 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.