Headlands Technologies LLC Takes $330,000 Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Headlands Technologies LLC bought a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,321 shares of the insurance provider’s stock, valued at approximately $330,000.

A number of other hedge funds also recently bought and sold shares of SIGI. Natixis Advisors L.P. grew its stake in shares of Selective Insurance Group by 6.3% in the third quarter. Natixis Advisors L.P. now owns 89,197 shares of the insurance provider’s stock worth $9,203,000 after acquiring an additional 5,289 shares during the last quarter. Boston Trust Walden Corp grew its position in Selective Insurance Group by 1.8% during the fourth quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock worth $97,791,000 after buying an additional 17,800 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Selective Insurance Group by 45.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 94,670 shares of the insurance provider’s stock worth $9,767,000 after purchasing an additional 29,662 shares in the last quarter. Vanguard Group Inc. lifted its position in Selective Insurance Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider’s stock worth $636,065,000 after purchasing an additional 41,639 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in shares of Selective Insurance Group by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider’s stock worth $1,451,000 after acquiring an additional 100 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on SIGI shares. Keefe, Bruyette & Woods cut their price objective on 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. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. Finally, Royal Bank of Canada reduced their price objective on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Selective Insurance Group has a consensus rating of “Hold” and an average target price of $105.17.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $100.13 on Friday. The firm has a market capitalization of $6.09 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.74 and a beta of 0.55. The firm’s fifty day moving average price is $103.65 and its two-hundred day moving average price is $102.75. Selective Insurance Group, Inc. has a 1 year low of $91.99 and a 1 year high of $109.58. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.02. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. As a group, research analysts anticipate that Selective Insurance Group, Inc. will post 7.67 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors 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 1.40%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.01%.

Insiders Place Their Bets

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group 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 transaction, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The sale 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.