William Blair Investment Management LLC Trims Stock Position in Selective Insurance Group, Inc. $SIGI

William Blair Investment Management LLC cut its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 394,861 shares of the insurance provider’s stock after selling 23,812 shares during the period. William Blair Investment Management LLC owned about 0.65% of Selective Insurance Group worth $32,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIGI. First Horizon Corp acquired a new position in shares of Selective Insurance Group in the 3rd quarter valued at about $29,000. Amundi lifted its holdings in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares during the period. Rothschild Investment LLC boosted its position in Selective Insurance Group by 680.0% in the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 476 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Selective Insurance Group by 415.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 846 shares of the insurance provider’s stock worth $73,000 after purchasing an additional 682 shares during the period. Finally, Versant Capital Management Inc increased its holdings 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 valued at $73,000 after purchasing an additional 706 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SIGI. Morgan Stanley increased their price target on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Piper Sandler lifted their price target on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods lowered their price target on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada assumed coverage on Selective Insurance Group in a research report on Monday, November 24th. They issued an “outperform” rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.00.

Selective Insurance Group Trading Up 0.3%

Shares of SIGI opened at $84.04 on Monday. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $93.38. The stock has a market cap of $5.05 billion, a PE ratio of 11.22 and a beta of 0.23. The firm’s fifty day moving average is $84.51 and its two-hundred day moving average is $81.10. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be given a $0.43 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.0%. Selective Insurance Group’s dividend payout ratio is 22.96%.

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.