First National Bank of Omaha Buys Shares of 27,321 Selective Insurance Group, Inc. $SIGI

First National Bank of Omaha bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,321 shares of the insurance provider’s stock, valued at approximately $2,650,000.

A number of other large investors also recently made changes to their positions in SIGI. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Selective Insurance Group in the second quarter worth approximately $26,000. Eurizon Capital SGR S.p.A. purchased a new position in Selective Insurance Group during the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC purchased a new position in Selective Insurance Group during the fourth quarter valued at approximately $25,000. Amundi increased its stake in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after buying an additional 311 shares during the period. Finally, First Horizon Corp increased its stake in Selective Insurance Group by 52.8% in the 4th quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

SIGI stock opened at $91.30 on Wednesday. The firm has a 50 day moving average of $95.26 and a two-hundred day moving average of $87.34. Selective Insurance Group, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 11.33 and a beta of 0.30. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.29. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $1.31 EPS. As a group, equities analysts anticipate that Selective Insurance Group, Inc. will post 8.12 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, August 17th. Selective Insurance Group’s dividend payout ratio (DPR) is 21.34%.

Insiders Place Their Bets

In other Selective Insurance Group news, EVP Michael H. Lanza sold 17,100 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total value of $1,608,084.00. Following the completion of the sale, the executive vice president owned 16,565 shares of the company’s stock, valued at $1,557,772.60. The trade was a 50.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Piper Sandler upped their price target on shares of Selective Insurance Group from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Oppenheimer increased their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on Selective Insurance Group from $101.00 to $102.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 target price on the stock. in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and an average target price of $100.33.

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.