Boston Trust Walden Corp Sells 50,748 Shares of Selective Insurance Group, Inc. $SIGI

Boston Trust Walden Corp decreased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,463 shares of the insurance provider’s stock after selling 50,748 shares during the quarter. Boston Trust Walden Corp’s holdings in Selective Insurance Group were worth $32,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of SIGI. Eurizon Capital SGR S.p.A. bought a new position in Selective Insurance Group during the fourth quarter worth about $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Selective Insurance Group in the fourth quarter worth about $25,000. True Wealth Design LLC raised its position in shares of Selective Insurance Group by 45.9% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 129 shares during the period. Amundi lifted its holdings in shares of Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Selective Insurance Group by 38.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 154 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $100.15 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $100.30. The stock has a market cap of $6.00 billion, a PE ratio of 13.70 and a beta of 0.29. The firm’s 50-day simple moving average is $89.53 and its 200 day simple moving average is $84.57. 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 announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 EPS. Research analysts predict that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.43 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 1.7%. Selective Insurance Group’s payout ratio is 23.53%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Oppenheimer lifted their price target on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a report on Monday, March 23rd. Piper Sandler raised their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $84.00 to $97.00 in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group currently has a consensus rating of “Hold” and a consensus target price of $91.67.

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.