Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Tributary Capital Management LLC

Tributary Capital Management LLC increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 280,271 shares of the insurance provider’s stock after purchasing an additional 728 shares during the period. Selective Insurance Group accounts for about 2.2% of Tributary Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. Tributary Capital Management LLC owned about 0.46% of Selective Insurance Group worth $26,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in Selective Insurance Group in the first quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake in Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 145 shares during the period. Fidelis Capital Partners LLC acquired a new position in Selective Insurance Group in the first quarter valued at approximately $48,000. Burkett Financial Services LLC acquired a new position in Selective Insurance Group in the fourth quarter valued at approximately $75,000. Finally, Lazard Asset Management LLC boosted its stake in Selective Insurance Group by 245.9% in the first quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider’s stock valued at $134,000 after acquiring an additional 873 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on SIGI shares. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. BMO Capital Markets lifted their target price on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Bank of America reduced their price objective on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating for the company in a research report on Thursday, July 11th. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their target price for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. Finally, Piper Sandler reduced their price target on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.67.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI traded up $0.54 on Friday, hitting $89.80. The company’s stock had a trading volume of 395,857 shares, compared to its average volume of 349,766. Selective Insurance Group, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.46 and a beta of 0.54. The stock’s 50-day moving average is $90.51 and its two-hundred day moving average is $97.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($2.59). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. During the same quarter last year, the company earned $0.99 EPS. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post 3.85 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.35 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.56%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

Insider Activity

In other news, Director Terrence W. Cavanaugh acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $85.85 per share, for a total transaction of $171,700.00. Following the completion of the acquisition, the director now directly owns 20,651 shares in the company, valued at approximately $1,772,888.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Terrence W. Cavanaugh bought 2,000 shares of Selective Insurance Group stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $85.85 per share, with a total value of $171,700.00. Following the completion of the acquisition, the director now directly owns 20,651 shares in the company, valued at approximately $1,772,888.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John J. Marchioni bought 2,400 shares of Selective Insurance Group stock in a transaction dated Monday, July 22nd. The shares were bought at an average cost of $83.56 per share, with a total value of $200,544.00. Following the completion of the acquisition, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Selective Insurance Group Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.