Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,333 shares of the insurance provider’s stock after buying an additional 207 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Selective Insurance Group were worth $2,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SIGI. Raymond James & Associates boosted its stake in Selective Insurance Group by 11.4% during the 1st quarter. Raymond James & Associates now owns 3,725 shares of the insurance provider’s stock valued at $333,000 after purchasing an additional 381 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Selective Insurance Group by 116.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,904 shares of the insurance provider’s stock valued at $528,000 after purchasing an additional 3,173 shares during the period. Private Advisor Group LLC acquired a new position in Selective Insurance Group during the 1st quarter valued at about $201,000. Bank of Montreal Can boosted its stake in Selective Insurance Group by 8.6% during the 1st quarter. Bank of Montreal Can now owns 7,495 shares of the insurance provider’s stock valued at $684,000 after purchasing an additional 591 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Selective Insurance Group by 10.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,063 shares of the insurance provider’s stock valued at $1,972,000 after purchasing an additional 2,129 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Up 1.0 %

Selective Insurance Group stock opened at $101.42 on Friday. The firm has a market cap of $6.17 billion, a PE ratio of 17.40, a P/E/G ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s 50 day moving average price is $103.73 and its two-hundred day moving average price is $102.84. Selective Insurance Group, Inc. has a twelve month low of $91.99 and a twelve month high of $109.58.

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

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were paid a $0.35 dividend. 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 presently 24.01%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

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.