Squarepoint Ops LLC Takes $5.41 Million Position in Selective Insurance Group, Inc. $SIGI

Squarepoint Ops LLC acquired a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 55,746 shares of the insurance provider’s stock, valued at approximately $5,408,000.

Several other large investors have also recently bought and sold shares of the company. State of Wyoming lifted its holdings in Selective Insurance Group by 17.7% during the 4th quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock worth $63,000 after buying an additional 113 shares in the last quarter. Oak Associates Ltd. OH increased its stake in shares of Selective Insurance Group by 1.8% in the 1st quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider’s stock valued at $537,000 after buying an additional 125 shares during the period. Merit Financial Group LLC raised its position in shares of 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 during the last quarter. Daiwa Securities Group Inc. raised its position in shares of 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 during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Selective Insurance Group by 0.5% during the first quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider’s stock valued at $2,699,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Insider Activity at Selective Insurance Group

In related news, EVP Michael Lanza sold 17,100 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following the sale, the executive vice president directly owned 16,565 shares in the company, valued at $1,557,772.60. This trade represents a 50.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is currently owned by company insiders.

Selective Insurance Group Stock Down 0.2%

NASDAQ:SIGI opened at $90.34 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group, Inc. has a 12-month low of $72.78 and a 12-month high of $100.40. The stock’s fifty day simple moving average is $94.15 and its 200-day simple moving average is $87.92. The firm has a market capitalization of $5.38 billion, a P/E ratio of 11.21 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. Equities research analysts expect that Selective Insurance Group, Inc. will post 8.11 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.43 dividend. The ex-dividend date of this dividend was 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 is 21.34%.

Analyst Ratings Changes

SIGI has been the topic of several recent research reports. Oppenheimer raised their price target on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Piper Sandler upped their target price on shares of Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their target price on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Weiss Ratings cut shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.33.

About Selective Insurance Group

Selective Insurance Group, Inc (NASDAQ: SIGI) is an insurance holding company that provides property and casualty insurance through its operating subsidiaries. Founded in 1926 and headquartered in Branchville, New Jersey, the company serves commercial and personal customers through a network of independent insurance agents.

Selective’s products include commercial automobile, property, general liability, workers’ compensation and other coverage designed for businesses, municipalities and professionals.