Fayez Sarofim & Co Takes Position in Selective Insurance Group, Inc. $SIGI

Fayez Sarofim & Co purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,846 shares of the insurance provider’s stock, valued at approximately $555,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. AGF Management Ltd. acquired a new stake in shares of Selective Insurance Group in the 3rd quarter valued at about $3,448,000. Frontier Capital Management Co. LLC acquired a new position in Selective Insurance Group during the second quarter worth approximately $20,108,000. American Century Companies Inc. increased its position in Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after buying an additional 280,395 shares during the period. Vest Financial LLC purchased a new stake in Selective Insurance Group in the third quarter valued at approximately $1,480,000. Finally, Norges Bank acquired a new stake in shares of Selective Insurance Group in the second quarter valued at approximately $61,437,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Up 0.2%

NASDAQ:SIGI opened at $76.56 on Tuesday. The firm has a market cap of $4.60 billion, a P/E ratio of 10.22 and a beta of 0.23. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $83.38 and its 200-day simple moving average is $81.22. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $93.38.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, January 29th. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.33. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is 22.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SIGI. Keefe, Bruyette & Woods lowered their target price on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 6th. Piper Sandler increased their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Royal Bank Of Canada started coverage on shares of Selective Insurance Group in a research report on Monday, November 24th. They set an “outperform” rating and a $95.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $83.00.

Selective Insurance Group Company 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.