Federated Hermes Inc. Has $2.93 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Federated Hermes Inc. lowered its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 27.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,251 shares of the insurance provider’s stock after selling 11,958 shares during the period. Federated Hermes Inc. owned about 0.05% of Selective Insurance Group worth $2,932,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its position in 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 purchasing an additional 145 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Selective Insurance Group by 6.7% during the fourth quarter. D.A. Davidson & CO. now owns 3,126 shares of the insurance provider’s stock worth $311,000 after acquiring an additional 196 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Selective Insurance Group by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider’s stock worth $705,000 after acquiring an additional 205 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Selective Insurance Group by 5.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider’s stock valued at $446,000 after acquiring an additional 216 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in Selective Insurance Group during the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $91.88 on Friday. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. The company has a market cap of $5.59 billion, a PE ratio of 16.23, a P/E/G ratio of 1.52 and a beta of 0.56. The stock has a 50-day moving average of $89.70 and a 200-day moving average of $95.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.49 by ($2.59). Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities research 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

Insider Activity

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on SIGI shares. Piper Sandler dropped their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada cut their price target on shares of 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. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. BMO Capital Markets boosted their price objective on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods upgraded 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 report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.67.

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.