Healthcare of Ontario Pension Plan Trust Fund Sells 8,439 Shares of Selective Insurance Group, Inc. $SIGI

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173,869 shares of the insurance provider’s stock after selling 8,439 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.29% of Selective Insurance Group worth $13,108,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SIGI. State of Wyoming boosted its position in shares of Selective Insurance Group by 17.7% during the fourth quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 113 shares in the last quarter. Oak Associates Ltd. OH raised its stake in Selective Insurance Group by 1.8% during the 1st quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider’s stock worth $537,000 after buying an additional 125 shares during the period. Merit Financial Group LLC lifted its holdings in Selective Insurance Group by 4.0% during the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock worth $271,000 after acquiring an additional 129 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Selective Insurance Group by 5.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,518 shares of the insurance provider’s stock worth $294,000 after acquiring an additional 187 shares in the last quarter. Finally, First Horizon Corp grew its stake in Selective Insurance Group by 52.8% in the fourth quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 190 shares during the period. Institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SIGI. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $84.00 to $97.00 in a report on Thursday, May 7th. Piper Sandler lifted their price objective on Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on Selective Insurance Group from $88.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Oppenheimer raised their target price on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.17.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $92.78 on Tuesday. The firm has a market cap of $5.55 billion, a PE ratio of 11.51 and a beta of 0.29. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.26. Selective Insurance Group, Inc. has a 1-year low of $72.78 and a 1-year high of $100.40. The company has a fifty day moving average price of $93.17 and a 200 day moving average price of $85.94.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.29. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the business posted $1.31 EPS. Research analysts predict that Selective Insurance Group, Inc. will post 7.95 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, August 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.9%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 21.34%.

About Selective Insurance Group

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.