GW&K Investment Management LLC lifted its position in shares of Selective Insurance (NASDAQ:SIGI) by 39.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,457 shares of the insurance provider’s stock after buying an additional 3,242 shares during the quarter. GW&K Investment Management LLC’s holdings in Selective Insurance were worth $695,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC acquired a new position in shares of Selective Insurance during the 1st quarter worth $203,000. Thrivent Financial for Lutherans raised its stake in shares of Selective Insurance by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 47,534 shares of the insurance provider’s stock worth $2,885,000 after buying an additional 2,406 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Selective Insurance by 5.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 363,785 shares of the insurance provider’s stock worth $22,082,000 after buying an additional 19,967 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Selective Insurance during the 1st quarter worth $261,000. Finally, Swiss National Bank raised its stake in shares of Selective Insurance by 2.2% during the 1st quarter. Swiss National Bank now owns 101,600 shares of the insurance provider’s stock worth $6,167,000 after buying an additional 2,200 shares during the last quarter. 79.61% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on SIGI shares. Sandler O’Neill reiterated a “hold” rating and set a $61.00 price objective on shares of Selective Insurance in a research report on Friday, April 6th. BidaskClub cut Selective Insurance from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research lowered Selective Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, March 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance in a research report on Thursday, May 3rd. Finally, Keefe, Bruyette & Woods set a $62.00 target price on Selective Insurance and gave the company a “hold” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Selective Insurance presently has an average rating of “Hold” and an average price target of $62.50.
In related news, Director J Brian Thebault sold 9,888 shares of the firm’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $56.01, for a total transaction of $553,826.88. Following the completion of the sale, the director now directly owns 90,160 shares of the company’s stock, valued at approximately $5,049,861.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael H. Lanza sold 9,000 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $55.99, for a total value of $503,910.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,888 shares of company stock valued at $1,616,737 over the last ninety days. Insiders own 3.00% of the company’s stock.
Shares of Selective Insurance opened at $55.75 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance has a 12 month low of $55.32 and a 12 month high of $55.50. The firm has a market cap of $3.28 billion, a PE ratio of 20.53, a P/E/G ratio of 0.82 and a beta of 1.27.
Selective Insurance (NASDAQ:SIGI) last posted its earnings results on Wednesday, May 2nd. The insurance provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.08). Selective Insurance had a return on equity of 9.58% and a net margin of 5.50%. The company had revenue of $626.70 million for the quarter, compared to the consensus estimate of $642.35 million. During the same quarter last year, the business earned $0.86 EPS. Selective Insurance’s quarterly revenue was up 4.4% compared to the same quarter last year. research analysts anticipate that Selective Insurance will post 3.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, May 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Selective Insurance’s dividend payout ratio is 23.15%.
About Selective Insurance
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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