Geode Capital Management LLC Purchases 8,580 Shares of Selective Insurance Group, Inc. $SIGI

Geode Capital Management LLC boosted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,660,758 shares of the insurance provider’s stock after acquiring an additional 8,580 shares during the period. Geode Capital Management LLC’s holdings in Selective Insurance Group were worth $138,976,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SIGI. AQR Capital Management LLC boosted its stake in shares of Selective Insurance Group by 174.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,593,645 shares of the insurance provider’s stock worth $137,340,000 after buying an additional 1,013,371 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Selective Insurance Group by 1,299.9% during the 3rd 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 last quarter. First Trust Advisors LP boosted its stake in shares of Selective Insurance Group by 657.3% during the 3rd quarter. First Trust Advisors LP now owns 305,629 shares of the insurance provider’s stock worth $24,777,000 after buying an additional 265,270 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Selective Insurance Group by 40.0% during the 2nd quarter. Bank of America Corp DE now owns 725,980 shares of the insurance provider’s stock worth $62,906,000 after buying an additional 207,258 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Selective Insurance Group by 58.9% during the 3rd quarter. Franklin Resources Inc. now owns 552,880 shares of the insurance provider’s stock worth $44,822,000 after buying an additional 204,947 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SIGI shares. Oppenheimer increased 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. Keefe, Bruyette & Woods increased their price objective on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Piper Sandler increased their price objective on shares of Selective Insurance Group from $82.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Selective Insurance Group in a research note on Monday, March 23rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $84.00 to $97.00 in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.67.

Selective Insurance Group Trading Up 0.6%

Shares of NASDAQ:SIGI opened at $86.01 on Friday. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $91.65. The company has a market capitalization of $5.15 billion, a P/E ratio of 11.77 and a beta of 0.32. The company has a 50-day simple moving average of $83.13 and a 200 day simple moving average of $82.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30.

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

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, May 15th. Selective Insurance Group’s dividend payout ratio (DPR) is 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.