Citadel Advisors LLC Has $540,000 Holdings in Selective Insurance Group (SIGI)

Citadel Advisors LLC cut its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 91.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,897 shares of the insurance provider’s stock after selling 99,284 shares during the quarter. Citadel Advisors LLC’s holdings in Selective Insurance Group were worth $540,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Selective Insurance Group by 1.6% in the 1st quarter. BlackRock Inc. now owns 7,616,807 shares of the insurance provider’s stock worth $462,340,000 after acquiring an additional 122,294 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Selective Insurance Group by 1.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,747,235 shares of the insurance provider’s stock worth $161,263,000 after acquiring an additional 27,419 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Selective Insurance Group by 4.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,407,096 shares of the insurance provider’s stock worth $82,597,000 after acquiring an additional 60,686 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Selective Insurance Group by 0.5% in the 4th quarter. William Blair Investment Management LLC now owns 592,399 shares of the insurance provider’s stock worth $34,774,000 after acquiring an additional 2,815 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Selective Insurance Group by 47.2% in the 4th quarter. Millennium Management LLC now owns 488,075 shares of the insurance provider’s stock worth $28,650,000 after acquiring an additional 156,551 shares in the last quarter. Institutional investors own 78.18% of the company’s stock.

Selective Insurance Group opened at $58.60 on Wednesday, Marketbeat reports. Selective Insurance Group has a 12-month low of $46.28 and a 12-month high of $62.40. The company has a market cap of $3.42 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.05 and a beta of 1.25. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.08). Selective Insurance Group had a net margin of 5.50% and a return on equity of 9.58%. The company had revenue of $626.70 million for the quarter, compared to analyst estimates of $642.35 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. equities analysts expect that Selective Insurance Group will post 3.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Tuesday, May 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.23%. Selective Insurance Group’s dividend payout ratio is currently 23.15%.

In other Selective Insurance Group news, EVP Michael H. Lanza sold 9,000 shares of the business’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $55.99, for a total transaction of $503,910.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Brian Thebault sold 16,923 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $59.16, for a total value of $1,001,164.68. The disclosure for this sale can be found here. Insiders have sold a total of 45,811 shares of company stock valued at $2,617,902 in the last 90 days. Insiders own 2.00% of the company’s stock.

SIGI has been the subject of several research reports. Zacks Investment Research upgraded Selective Insurance Group from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Thursday, March 22nd. BidaskClub lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. ValuEngine lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, May 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Selective Insurance Group presently has an average rating of “Hold” and a consensus price target of $62.00.

Selective Insurance Group Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) 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.

Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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