Skyline Advisors Inc. Sells 1,000 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Skyline Advisors Inc. lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 13.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,575 shares of the insurance provider’s stock after selling 1,000 shares during the quarter. Skyline Advisors Inc.’s holdings in Selective Insurance Group were worth $718,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SIGI. Blue Trust Inc. grew its holdings in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Selective Insurance Group during the first quarter worth approximately $27,000. Headinvest LLC bought a new position in shares of Selective Insurance Group in the third quarter valued at approximately $62,000. Burkett Financial Services LLC acquired a new position in shares of Selective Insurance Group in the 4th quarter worth approximately $75,000. Finally, Morton Brown Family Wealth LLC bought a new stake in Selective Insurance Group during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Down 0.1 %

SIGI stock traded down $0.09 during mid-day trading on Monday, hitting $93.74. 26,539 shares of the company were exchanged, compared to its average volume of 315,662. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group, Inc. has a 1-year low of $89.78 and a 1-year high of $109.58. The firm’s 50 day simple moving average is $96.19 and its 200 day simple moving average is $100.37. The firm has a market cap of $5.70 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.85 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 6.8 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio is presently 24.73%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SIGI. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Piper Sandler reiterated a “neutral” rating and set a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a report on Friday, April 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $103.00 target price on shares of Selective Insurance Group in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $107.20.

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.