Two Sigma Securities LLC Makes New $935,000 Investment in Selective Insurance Group, Inc. $SIGI

Two Sigma Securities LLC purchased a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 9,638 shares of the insurance provider’s stock, valued at approximately $935,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Selective Insurance Group in the second quarter worth about $754,557,000. AQR Capital Management LLC raised its position in shares of Selective Insurance Group by 56.3% during the 4th quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock worth $339,662,000 after buying an additional 1,462,838 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Selective Insurance Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,660,758 shares of the insurance provider’s stock worth $138,976,000 after buying an additional 8,580 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Selective Insurance Group by 33.3% in the 1st quarter. First Trust Advisors LP now owns 1,381,867 shares of the insurance provider’s stock worth $104,179,000 after acquiring an additional 345,348 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Selective Insurance Group by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock valued at $102,473,000 after acquiring an additional 44,532 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Morgan Stanley upped their target price on Selective Insurance Group from $72.00 to $80.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods lifted their price target on Selective Insurance Group from $101.00 to $102.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective on the stock. in a research note on Tuesday, July 28th. Finally, Oppenheimer upped their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.33.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI opened at $91.29 on Tuesday. The company’s fifty day moving average is $95.16 and its two-hundred day moving average is $87.61. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $100.40. The company has a market cap of $5.44 billion, a P/E ratio of 11.33 and a beta of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.29. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.During the same quarter in the previous year, the company posted $1.31 earnings per share. Equities analysts expect that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.9%. Selective Insurance Group’s dividend payout ratio (DPR) is 21.34%.

Insider Buying and Selling at Selective Insurance Group

In related news, EVP Michael H. Lanza sold 17,100 shares of Selective Insurance Group stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the completion of the sale, the executive vice president owned 16,565 shares of the company’s stock, valued at approximately $1,557,772.60. This trade represents a 50.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.

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.