Wealth Enhancement Advisory Services LLC Acquires 6,619 Shares of Selective Insurance Group, Inc. $SIGI

by · The Markets Daily

Wealth Enhancement Advisory Services LLC grew its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 39.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,326 shares of the insurance provider’s stock after buying an additional 6,619 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Selective Insurance Group were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SIGI. AGF Management Ltd. purchased a new position in Selective Insurance Group in the third quarter worth about $3,448,000. Frontier Capital Management Co. LLC bought a new stake in shares of Selective Insurance Group in the 2nd quarter valued at approximately $20,108,000. American Century Companies Inc. lifted its stake in shares of Selective Insurance Group by 1,299.9% in the 3rd quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after purchasing an additional 280,395 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Selective Insurance Group in the 3rd quarter worth approximately $1,480,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Selective Insurance Group in the 3rd quarter worth approximately $5,082,000. 82.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SIGI. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Piper Sandler lifted their price objective on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Selective Insurance Group in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $83.00.

View Our Latest Research Report on SIGI

Selective Insurance Group Trading Up 1.5%

Shares of NASDAQ SIGI opened at $76.92 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $93.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 10.27 and a beta of 0.26. The business’s 50 day moving average price is $81.32 and its 200-day moving average price is $80.82.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.Selective Insurance Group’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. On average, sell-side analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 13th. Selective Insurance Group’s payout ratio is currently 22.96%.

Selective Insurance Group Company Profile

(Free Report)

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.

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