Mutual of America Capital Management LLC Sells 2,492 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Mutual of America Capital Management LLC cut its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,277 shares of the insurance provider’s stock after selling 2,492 shares during the period. Mutual of America Capital Management LLC owned 0.26% of Selective Insurance Group worth $14,663,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Selective Insurance Group in the first quarter valued at approximately $27,000. Quest Partners LLC bought a new position in shares of Selective Insurance Group during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in shares of Selective Insurance Group by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Selective Insurance Group during the 1st quarter worth approximately $48,000. Finally, Burkett Financial Services LLC bought a new position in shares of Selective Insurance Group during the 4th quarter worth approximately $75,000. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Trading Up 0.0 %

NASDAQ SIGI opened at $92.17 on Wednesday. The firm has a market capitalization of $5.61 billion, a P/E ratio of 16.28, a PEG ratio of 1.48 and a beta of 0.56. The business has a fifty day simple moving average of $89.78 and a 200 day simple moving average of $95.68. Selective Insurance Group, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. During the same quarter last year, the company earned $0.99 EPS. On average, analysts predict that Selective Insurance Group, Inc. will post 3.84 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.35 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SIGI shares. Piper Sandler cut their price target on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Bank of America lowered their target price on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada lowered their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and an average target price of $98.67.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni acquired 2,400 shares of Selective Insurance Group stock in a transaction on Monday, July 22nd. The stock was purchased at an average price of $83.56 per share, for a total transaction of $200,544.00. Following the purchase, the chief executive officer now directly owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO John J. Marchioni purchased 2,400 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was bought at an average price of $83.56 per share, for a total transaction of $200,544.00. Following the purchase, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $85.85 per share, with a total value of $171,700.00. Following the purchase, the director now directly owns 20,651 shares in the company, valued at approximately $1,772,888.35. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

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.