Metropolitan Life Insurance Co NY increased its position in shares of Selective Insurance Group (NASDAQ:SIGI) by 82.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,879 shares of the insurance provider’s stock after purchasing an additional 15,315 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Selective Insurance Group were worth $2,547,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SIGI. Wells Fargo & Company MN boosted its stake in Selective Insurance Group by 25.7% in the 2nd quarter. Wells Fargo & Company MN now owns 182,254 shares of the insurance provider’s stock worth $13,649,000 after purchasing an additional 37,295 shares during the period. BB&T Securities LLC purchased a new position in shares of Selective Insurance Group in the second quarter worth $211,000. EP Wealth Advisors LLC boosted its position in shares of Selective Insurance Group by 4.6% during the second quarter. EP Wealth Advisors LLC now owns 3,346 shares of the insurance provider’s stock worth $251,000 after acquiring an additional 147 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Selective Insurance Group by 3.2% during the third quarter. Russell Investments Group Ltd. now owns 98,389 shares of the insurance provider’s stock worth $7,397,000 after acquiring an additional 3,008 shares during the last quarter. Finally, New Mexico Educational Retirement Board purchased a new position in Selective Insurance Group during the third quarter valued at $759,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.
SIGI has been the topic of a number of research reports. Buckingham Research lifted their price target on shares of Selective Insurance Group from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. BidaskClub downgraded shares of Selective Insurance Group from a “sell” rating to a “strong sell” rating in a report on Saturday, November 9th. Finally, ValuEngine raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $74.00.
In other Selective Insurance Group news, Director Terrence W. Cavanaugh purchased 1,000 shares of Selective Insurance Group stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $65.00 per share, for a total transaction of $65,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
Shares of Selective Insurance Group stock opened at $65.44 on Tuesday. The firm has a market cap of $3.93 billion, a PE ratio of 17.88, a PEG ratio of 2.11 and a beta of 0.71. The stock has a 50 day moving average of $69.53 and a 200 day moving average of $74.39. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a 12 month low of $56.22 and a 12 month high of $81.35.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.14). The firm had revenue of $710.40 million during the quarter, compared to the consensus estimate of $718.14 million. Selective Insurance Group had a return on equity of 12.83% and a net margin of 8.53%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. As a group, equities research analysts forecast that Selective Insurance Group will post 4.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. Selective Insurance Group’s dividend payout ratio (DPR) is 25.14%.
Selective Insurance Group 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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