Csenge Advisory Group Reduces Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Csenge Advisory Group lessened its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,817 shares of the insurance provider’s stock after selling 405 shares during the quarter. Csenge Advisory Group’s holdings in Selective Insurance Group were worth $526,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Selective Insurance Group by 3.8% in the 3rd quarter. Deutsche Bank AG now owns 97,286 shares of the insurance provider’s stock valued at $10,037,000 after buying an additional 3,599 shares during the period. Headinvest LLC acquired a new position in Selective Insurance Group in the 3rd quarter worth about $62,000. Teachers Retirement System of The State of Kentucky raised its holdings in Selective Insurance Group by 36.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 37,507 shares of the insurance provider’s stock worth $3,870,000 after purchasing an additional 9,986 shares during the period. Vanguard Group Inc. raised its holdings in Selective Insurance Group by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider’s stock worth $636,065,000 after purchasing an additional 41,639 shares during the period. Finally, Diversified Trust Co raised its holdings in Selective Insurance Group by 27.8% in the 4th quarter. Diversified Trust Co now owns 8,885 shares of the insurance provider’s stock worth $884,000 after purchasing an additional 1,935 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 2.0 %

NASDAQ:SIGI traded up $1.87 on Thursday, reaching $95.01. 114,405 shares of the company’s stock were exchanged, compared to its average volume of 309,925. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.54. The business has a fifty day moving average of $94.64 and a 200-day moving average of $99.94. Selective Insurance Group, Inc. has a 52-week low of $89.78 and a 52-week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $1.44 earnings per share. As a group, analysts expect that Selective Insurance Group, Inc. will post 6.8 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.47%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.73%.

Wall Street Analyst Weigh In

SIGI has been the subject of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a report on Monday, April 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $103.00 price objective on shares of Selective Insurance Group in a research note on Monday, June 24th. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Bank of America cut their price objective on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating for the company in a research note on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and set a $120.00 price objective on shares of Selective Insurance Group in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $106.60.

Selective Insurance Group Company Profile

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.