Selective Insurance Group, Inc. $SIGI Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC decreased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 256,516 shares of the insurance provider’s stock after selling 19,809 shares during the period. Selective Insurance Group makes up 2.1% of Tributary Capital Management LLC’s portfolio, making the stock its 8th biggest position. Tributary Capital Management LLC’s holdings in Selective Insurance Group were worth $21,463,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Horizon Corp acquired a new position in shares of Selective Insurance Group in the 3rd quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in shares of Selective Insurance Group by 45.9% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock worth $34,000 after buying an additional 129 shares in the last quarter. Amundi raised its holdings in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Selective Insurance Group by 680.0% in the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock worth $44,000 after buying an additional 476 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Selective Insurance Group by 38.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock worth $46,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 2.6%

NASDAQ SIGI opened at $82.77 on Friday. The stock has a fifty day moving average of $80.33 and a 200-day moving average of $80.98. The stock has a market capitalization of $4.96 billion, a P/E ratio of 11.05 and a beta of 0.26. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $93.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.24 by $0.33. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned $1.62 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.43 per share. The ex-dividend date was Friday, February 13th. This represents a $1.72 annualized dividend and a dividend yield of 2.1%. Selective Insurance Group’s payout ratio is currently 22.96%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SIGI. Weiss Ratings reiterated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research report on Monday, March 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Finally, Piper Sandler raised their price target on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.60.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.