Alamar Capital Management LLC Reduces Holdings in Selective Insurance Group, Inc. $SIGI

Alamar Capital Management LLC trimmed its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,095 shares of the insurance provider’s stock after selling 482 shares during the quarter. Alamar Capital Management LLC’s holdings in Selective Insurance Group were worth $1,290,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Olde Wealth Management LLC acquired a new position in Selective Insurance Group during the first quarter worth $28,000. Quarry LP acquired a new position in Selective Insurance Group during the fourth quarter worth $38,000. Brooklyn Investment Group acquired a new position in Selective Insurance Group during the first quarter worth $38,000. Toth Financial Advisory Corp acquired a new position in shares of Selective Insurance Group in the 1st quarter valued at $41,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Selective Insurance Group by 752.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 474 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni acquired 3,200 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average price of $77.89 per share, with a total value of $249,248.00. Following the completion of the acquisition, the chief executive officer directly owned 139,775 shares of the company’s stock, valued at approximately $10,887,074.75. The trade was a 2.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Kelly Doherty acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $77.00 per share, with a total value of $115,500.00. Following the completion of the purchase, the director directly owned 27,110 shares in the company, valued at $2,087,470. This represents a 5.86% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 10,602 shares of company stock worth $817,440 in the last ninety days. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SIGI shares. Wall Street Zen raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Morgan Stanley lowered Selective Insurance Group from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $86.00 to $72.00 in a research note on Tuesday, August 5th. Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. Finally, Piper Sandler cut their price objective on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $87.33.

Selective Insurance Group Trading Up 0.1%

SIGI opened at $78.23 on Monday. The company has a market cap of $4.76 billion, a P/E ratio of 12.80 and a beta of 0.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $103.56. The business’s 50-day simple moving average is $82.18 and its 200-day simple moving average is $85.32.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same period last year, the company earned ($1.10) earnings per share. As a group, equities research analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.88%.

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.