Peregrine Capital Management LLC lifted its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,028 shares of the insurance provider’s stock after purchasing an additional 1,328 shares during the quarter. Peregrine Capital Management LLC’s holdings in Selective Insurance Group were worth $4,854,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Investment Company LLC bought a new position in shares of Selective Insurance Group during the first quarter valued at approximately $56,000. PhiloSmith Capital Corp boosted its position in shares of Selective Insurance Group by 1,400.0% during the first quarter. PhiloSmith Capital Corp now owns 3,000 shares of the insurance provider’s stock valued at $149,000 after buying an additional 2,800 shares during the last quarter. Cohen Lawrence B purchased a new stake in shares of Selective Insurance Group during the second quarter valued at $200,000. Canandaigua National Corp purchased a new stake in shares of Selective Insurance Group during the second quarter valued at $201,000. Finally, Paloma Partners Management Co boosted its position in shares of Selective Insurance Group by 18.0% during the first quarter. Paloma Partners Management Co now owns 4,119 shares of the insurance provider’s stock valued at $205,000 after buying an additional 627 shares during the last quarter. 77.97% of the stock is owned by institutional investors.
Several equities research analysts recently commented on SIGI shares. Piper Sandler dropped their price objective on Selective Insurance Group from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. BidaskClub raised Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, July 17th. ValuEngine cut Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. Credit Suisse Group raised Selective Insurance Group from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $49.00 to $50.00 in a research report on Thursday, May 14th. Finally, Royal Bank of Canada dropped their price objective on Selective Insurance Group from $75.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Selective Insurance Group currently has a consensus rating of “Hold” and a consensus price target of $60.00.
SIGI stock opened at $54.34 on Friday. Selective Insurance Group has a fifty-two week low of $37.05 and a fifty-two week high of $81.35. The business’s 50-day moving average is $53.28 and its two-hundred day moving average is $55.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.32 and a current ratio of 0.31. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 8.49 and a beta of 0.73.
Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 29th. The insurance provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Selective Insurance Group had a return on equity of 9.90% and a net margin of 6.73%. The company had revenue of $682.40 million for the quarter, compared to the consensus estimate of $707.28 million. During the same quarter in the prior year, the company earned $1.16 earnings per share. Selective Insurance Group’s revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Selective Insurance Group will post 3.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, August 13th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 20.91%.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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