Squarepoint Ops LLC Purchases Shares of 55,746 Selective Insurance Group, Inc. $SIGI

Squarepoint Ops LLC acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 55,746 shares of the insurance provider’s stock, valued at approximately $5,408,000. Squarepoint Ops LLC owned approximately 0.09% of Selective Insurance Group as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Selective Insurance Group during the 2nd quarter valued at about $754,557,000. California State Teachers Retirement System lifted its stake in Selective Insurance Group by 9,333.8% during the second quarter. California State Teachers Retirement System now owns 6,916,231 shares of the insurance provider’s stock worth $670,944,000 after purchasing an additional 6,842,918 shares during the period. AQR Capital Management LLC boosted its holdings in Selective Insurance Group by 56.3% during the fourth 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 in the last quarter. Wellington Management Group LLP acquired a new stake in Selective Insurance Group during the second quarter valued at approximately $77,149,000. Finally, Norges Bank bought a new stake in shares of Selective Insurance Group in the 4th quarter valued at approximately $65,625,000. 82.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael Lanza sold 17,100 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the sale, the executive vice president owned 16,565 shares in the company, valued at approximately $1,557,772.60. This represents a 50.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $90.34 on Friday. Selective Insurance Group, Inc. has a 1 year low of $72.78 and a 1 year high of $100.40. The firm has a 50 day moving average of $94.15 and a 200-day moving average of $87.92. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.38 billion, a P/E ratio of 11.21 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.66 by $0.29. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.31 EPS. As a group, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 8.11 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.43 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Piper Sandler upped their price target on Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings lowered Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. Morgan Stanley lifted their price objective on Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, BMO Capital Markets downgraded shares of 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. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $100.33.

Selective Insurance Group Profile

Selective Insurance Group, Inc (NASDAQ: SIGI) is an insurance holding company that provides property and casualty insurance through its operating subsidiaries. Founded in 1926 and headquartered in Branchville, New Jersey, the company serves commercial and personal customers through a network of independent insurance agents.

Selective’s products include commercial automobile, property, general liability, workers’ compensation and other coverage designed for businesses, municipalities and professionals.