Legacy Capital Wealth Partners LLC Purchases New Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,049 shares of the insurance provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently bought and sold shares of SIGI. Natixis Advisors L.P. increased its holdings in Selective Insurance Group by 6.3% during the 3rd quarter. Natixis Advisors L.P. now owns 89,197 shares of the insurance provider’s stock worth $9,203,000 after purchasing an additional 5,289 shares during the period. Boston Trust Walden Corp increased its stake in shares of Selective Insurance Group by 1.8% during the fourth quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock valued at $97,791,000 after buying an additional 17,800 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Selective Insurance Group by 45.6% in the third quarter. Envestnet Asset Management Inc. now owns 94,670 shares of the insurance provider’s stock valued at $9,767,000 after acquiring an additional 29,662 shares in the last quarter. Vanguard Group Inc. lifted its stake in Selective Insurance Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider’s stock worth $636,065,000 after acquiring an additional 41,639 shares during the period. Finally, State of Michigan Retirement System lifted its stake in Selective Insurance Group by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider’s stock worth $1,451,000 after acquiring an additional 100 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th. Royal Bank of Canada lowered their target price on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Piper Sandler reiterated a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a report on Monday, April 1st. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods dropped their price objective on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.17.

Insider Buying and Selling

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.88, for a total transaction of $278,040.88. Following the transaction, the chief operating officer now owns 10,511 shares in the company, valued at approximately $1,112,904.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $101.40 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.16 billion, a PE ratio of 17.39, a P/E/G ratio of 0.74 and a beta of 0.55. Selective Insurance Group, Inc. has a 12 month low of $91.99 and a 12 month high of $109.58. The stock has a fifty day moving average price of $103.60 and a 200-day moving average price of $102.76.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Equities research analysts predict that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, February 14th. Selective Insurance Group’s payout ratio is currently 24.01%.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.