Dockside LLC Makes New $613,000 Investment in Selective Insurance Group, Inc. $SIGI

Dockside LLC acquired a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the fourth quarter, Holdings Channel reports. The fund acquired 7,330 shares of the insurance provider’s stock, valued at approximately $613,000.

Other institutional investors have also added to or reduced their stakes in the company. Lighthouse Investment Partners LLC bought a new stake in Selective Insurance Group in the 3rd quarter worth about $5,082,000. American Century Companies Inc. grew its position in Selective Insurance Group by 1,299.9% in the 3rd quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after purchasing an additional 280,395 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Selective Insurance Group by 381.2% during the 4th quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider’s stock valued at $2,372,000 after acquiring an additional 22,456 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Selective Insurance Group during the 2nd quarter valued at approximately $468,000. Finally, Comerica Bank grew its position in shares of Selective Insurance Group by 94.8% during the 4th quarter. Comerica Bank now owns 55,955 shares of the insurance provider’s stock valued at $4,682,000 after acquiring an additional 27,236 shares during the period. 82.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $84.00 to $97.00 in a research report on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on shares of Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research report on Monday, March 23rd. Piper Sandler increased their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Finally, Oppenheimer increased their target price on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.67.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $92.41 on Monday. The stock has a market capitalization of $5.53 billion, a P/E ratio of 12.64 and a beta of 0.32. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $84.98 and its 200 day moving average is $82.88. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $92.73.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 earnings per share. On average, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.81 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 15th. Selective Insurance Group’s dividend payout ratio is presently 23.53%.

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.