Barclays PLC increased its position in shares of Selective Insurance Group, Inc. (NASDAQ: SIGI – Get a rating) by 5.8% during the 3rd quarter, according to the company in its most recent communication to the Securities and Exchange Commission. The company held 29,207 shares of the insurance provider after purchasing an additional 1,614 shares during the period. Barclays PLC’s holdings in Selective Insurance Group were worth $2,377,000 at the end of the last quarter.
→ Cash holders are STILL not taking steps to prepare (From Investor Place Media)
Several other institutional investors have also recently changed their positions in the company. Martingale Asset Management LP increased its stake in shares of Selective Insurance Group by 0.5% during the second quarter. Martingale Asset Management LP now owns 28,035 shares of the insurance provider valued at $2,438,000 after purchasing an additional 130 shares during the period. Mackenzie Financial Corp increased its stake in shares of Selective Insurance Group by 4.6% in the first quarter. Mackenzie Financial Corp now owns 3,359 shares of the insurance provider valued at $300,000 after buying an additional 147 shares during the period. Creative Planning increased its stake in Selective Insurance Group by 0.6% during the second quarter. Creative Planning now owns 25,118 shares of the insurance provider valued at $2,184,000 after purchasing an additional 153 shares during the period. Van ECK Associates Corp increased its stake in shares of Selective Insurance Group by 9.9% during the third quarter. Van ECK Associates Corp now owns 1,755 shares of the insurance provider valued at $143,000 after buying an additional 158 shares during the period. Finally, Fifth Third Bancorp increased its stake in Selective Insurance Group by 19.3% in the second quarter. Fifth Third Bancorp now owns 1,025 shares of the insurance provider valued at $89,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s shares.
Price performance of the selective insurance group
Shares of NASDAQ SIGI opened at $93.69 on Thursday. The company has a debt ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $5.65 billion, a PE ratio of 24.98, a P/E/G ratio of 2.36 and a beta of 0.62. The company has a 50-day simple moving average of $91.66 and a two-hundred-day simple moving average of $87.27. Selective Insurance Group, Inc. has a fifty-two week minimum of $66.81 and a fifty-two week maximum of $98.80.
Selective Insurance Group (NASDAQ: SIGI – Get a rating) last reported results on Wednesday, November 2. The insurance provider reported EPS of $0.99 for the quarter, missing analyst consensus estimates of $1.16 per ($0.17). Selective Insurance Group achieved a return on equity of 12.79% and a net margin of 6.76%. The company posted revenue of $920.70 million for the quarter, versus analyst estimates of $908.21 million. As a group, stock analysts expect Selective Insurance Group, Inc. to post EPS of 5.04 for the current fiscal year.
A Wall Street analyst gives his opinion
Several research companies have published reports on SIGI. Piper Sandler raised her price target on Selective Insurance Group from $88.00 to $91.00 in a Tuesday, January 10 research note. Janney Montgomery Scott began coverage of Selective Insurance Group in a research note on Friday, November 11. They issued a “neutral” rating and a target price of $96.00 on the stock. StockNews.com began covering Selective Insurance Group in a Wednesday, Oct. 12 research note. They issued a “hold” rating on the stock. BMO Capital Markets began covering the Select Insurance Group in a research note on Thursday, January 19. They issued a “market performance” rating and a target price of $90.00 on the stock. Finally, Morgan Stanley raised its price target on Selective Insurance Group from $98.00 to $105.00 and gave the company an “overweight” rating in a Tuesday, November 22 research note.
Insider buying and selling
In related news, director John Burville sold 2,652 shares of Selective Insurance Group in a trade dated Tuesday, November 29. The stock was sold at an average price of $95.52, for a total transaction of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares of the company, valued at $7,990,152.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. In related news, director John Burville sold 2,652 shares of Selective Insurance Group in a trade that took place on Tuesday, November 29. The stock was sold at an average price of $95.52, for a total transaction of $253,319.04. Following completion of the transaction, the administrator now directly owns 83,649 shares of the company, valued at $7,990,152.48. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, COO Brenda M. Hall sold 2,813 shares of Selective Insurance Group in a transaction that took place on Monday, November 28. The shares were sold at an average price of $95.11, for a total value of $267,544.43. Following the transaction, the chief operating officer now owns 18,650 shares of the company, valued at $1,773,801.50. Disclosure of this sale can be found here. Insiders sold 8,734 shares of the company valued at $825,796 during the last quarter. 2.00% of the shares are currently held by insiders of the company.
Selective Insurance Group Profile
Selective Insurance Group, Inc provides property and casualty insurance products. It operates through the following segments: Standard Business Lines, Standard Personal Lines, E&S Lines and Investments. The Standard Commercial Lines segment offers insurance products and services to commercial customers, such as non-profit organizations and local government agencies.
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