Natixis Advisors L.P. Purchases 1,624 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Natixis Advisors L.P. boosted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,821 shares of the insurance provider’s stock after purchasing an additional 1,624 shares during the period. Natixis Advisors L.P. owned about 0.15% of Selective Insurance Group worth $9,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings 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 bought a new position in Selective Insurance Group in the third quarter valued at about $62,000. Morton Brown Family Wealth LLC acquired a new stake in Selective Insurance Group in the fourth quarter worth about $82,000. Fifth Third Bancorp raised its holdings in Selective Insurance Group by 12.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider’s stock worth $121,000 after purchasing an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Selective Insurance Group by 15.3% during the 3rd quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider’s stock valued at $177,000 after purchasing an additional 228 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada cut their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Piper Sandler restated a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a report on Monday, April 1st. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. Finally, 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 report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and a consensus price target of $105.17.

Insider Transactions at Selective Insurance Group

In other news, COO Brenda M. Hall sold 2,626 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the transaction, the chief operating officer now owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $99.00 on Thursday. The company’s fifty day simple moving average is $103.12 and its 200-day simple moving average is $102.48. 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 12 month low of $92.06 and a 12 month high of $109.58. The firm has a market cap of $6.02 billion, a PE ratio of 17.49, a P/E/G ratio of 0.77 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. Equities research analysts expect that Selective Insurance Group, Inc. will post 7.49 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.40 annualized dividend and a yield of 1.41%. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

About Selective Insurance Group

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.