Y Intercept Hong Kong Ltd Sells 8,703 Shares of Selective Insurance Group, Inc. $SIGI

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 19.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,881 shares of the insurance provider’s stock after selling 8,703 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Selective Insurance Group were worth $2,909,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. First Horizon Corp bought a new position in Selective Insurance Group during the third quarter worth $29,000. Amundi raised its holdings in shares of Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares during the period. Versant Capital Management Inc boosted its position in shares of Selective Insurance Group by 362.1% during the 3rd quarter. Versant Capital Management Inc now owns 901 shares of the insurance provider’s stock worth $73,000 after purchasing an additional 706 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Selective Insurance Group by 415.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock valued at $73,000 after buying an additional 682 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Selective Insurance Group by 45.5% in the 2nd quarter. Signaturefd LLC now owns 979 shares of the insurance provider’s stock valued at $85,000 after buying an additional 306 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SIGI. Morgan Stanley increased their price target on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Royal Bank Of Canada assumed coverage on Selective Insurance Group in a report on Monday, November 24th. They issued an “outperform” rating and a $95.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Finally, BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and an average target price of $81.60.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $81.33 on Tuesday. The company has a fifty day moving average price of $81.64 and a 200-day moving average price of $80.49. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 12.44 and a beta of 0.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $96.49.

Selective Insurance Group Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.