Los Angeles Capital Management LLC Has $2.95 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Los Angeles Capital Management LLC lowered its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 16.8% in the first quarter, Holdings Channel reports. The firm owned 26,976 shares of the insurance provider’s stock after selling 5,460 shares during the period. Los Angeles Capital Management LLC’s holdings in Selective Insurance Group were worth $2,945,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Headinvest LLC bought a new position in Selective Insurance Group in the third quarter valued at approximately $62,000. Burkett Financial Services LLC bought a new position in Selective Insurance Group in the fourth quarter valued at approximately $75,000. Morton Brown Family Wealth LLC bought a new position in Selective Insurance Group in the fourth quarter valued at approximately $82,000. Finally, SG Americas Securities LLC lifted its stake in Selective Insurance Group by 16.5% in the fourth quarter. SG Americas Securities LLC now owns 2,001 shares of the insurance provider’s stock valued at $199,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SIGI shares. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Piper Sandler reissued a “neutral” rating and issued a $104.00 price objective on shares of Selective Insurance Group in a research report on Monday, April 1st. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and an average target price of $107.60.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $92.52 on Friday. The company’s fifty day simple moving average is $97.09 and its 200-day simple moving average is $100.74. 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 cap of $5.62 billion, a PE ratio of 16.35, a P/E/G ratio of 0.84 and a beta of 0.55. Selective Insurance Group, Inc. has a 12 month low of $89.78 and a 12 month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. Selective Insurance Group’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Equities research analysts expect that Selective Insurance Group, Inc. will post 6.84 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.51%. Selective Insurance Group’s payout ratio is 24.74%.

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.