UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $15.12 Million Stake in Selective Insurance Group, Inc. $SIGI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 24.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,845 shares of the insurance provider’s stock after selling 51,567 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Selective Insurance Group were worth $15,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Selective Insurance Group in the second quarter worth about $754,557,000. AQR Capital Management LLC boosted its stake in Selective Insurance Group by 56.3% during the 4th quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock valued at $339,662,000 after purchasing an additional 1,462,838 shares during the period. Geode Capital Management LLC grew its holdings in Selective Insurance Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,660,758 shares of the insurance provider’s stock valued at $138,976,000 after buying an additional 8,580 shares during the last quarter. First Trust Advisors LP grew its holdings in Selective Insurance Group by 33.3% in the 1st quarter. First Trust Advisors LP now owns 1,381,867 shares of the insurance provider’s stock valued at $104,179,000 after buying an additional 345,348 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Selective Insurance Group by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock worth $102,473,000 after buying an additional 44,532 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Trading Down 1.1%

Selective Insurance Group stock opened at $92.19 on Friday. The business has a 50 day moving average price of $94.93 and a two-hundred day moving average price of $87.74. 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, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 11.44 and a beta of 0.29.

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

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.43 per share. The ex-dividend date was Monday, August 17th. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. Selective Insurance Group’s payout ratio is currently 21.34%.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, EVP Michael Lanza sold 17,100 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on SIGI shares. BMO Capital Markets lowered Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price target for the company. in a report on Tuesday, July 28th. Oppenheimer raised their price objective on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Royal Bank Of Canada boosted their target price on shares of Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their price target on shares of Selective Insurance Group from $101.00 to $102.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $100.33.

About Selective Insurance Group

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.