Selective Insurance Group, Inc. $SIGI Position Trimmed by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 24.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,845 shares of the insurance provider’s stock after selling 51,567 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Selective Insurance Group worth $15,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. State of Wyoming grew its position in Selective Insurance Group by 17.7% during the fourth quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 113 shares in the last quarter. Oak Associates Ltd. OH lifted its position in Selective Insurance Group by 1.8% in the 1st quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider’s stock worth $537,000 after buying an additional 125 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Selective Insurance Group by 4.0% during the 3rd quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after buying an additional 129 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Selective Insurance Group by 5.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,518 shares of the insurance provider’s stock valued at $294,000 after buying an additional 187 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Selective Insurance Group by 0.5% during the 1st quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider’s stock valued at $2,699,000 after acquiring an additional 192 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

NASDAQ SIGI opened at $92.19 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $72.78 and a fifty-two week high of $100.40. The stock’s 50-day moving average is $94.93 and its two-hundred day moving average is $87.74. The firm has a market cap of $5.49 billion, a P/E ratio of 11.44 and a beta of 0.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.29. The company had revenue of $1.39 billion during 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 prior year, the company posted $1.31 EPS. On average, analysts anticipate 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 was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, August 17th. Selective Insurance Group’s payout ratio is 21.34%.

Wall Street Analysts Forecast Growth

SIGI has been the topic of a number of research reports. Weiss Ratings downgraded shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Piper Sandler boosted their target price on Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Oppenheimer upped their target price on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Royal Bank Of Canada raised their price target on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Finally, Morgan Stanley lifted their price target on Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Selective Insurance Group has a consensus rating of “Hold” and an average target price of $100.33.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, EVP Michael Lanza sold 17,100 shares of the company’s stock in a transaction that occurred 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 $1,557,772.60. This represents a 50.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

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.