Russell Investments Group Ltd. lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 52.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,153 shares of the insurance provider’s stock after selling 61,796 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Selective Insurance Group worth $5,105,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SIGI. Janney Montgomery Scott LLC increased its position in Selective Insurance Group by 36.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,344 shares of the insurance provider’s stock valued at $602,000 after purchasing an additional 1,980 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Selective Insurance Group during the 4th quarter valued at approximately $2,680,000. State of New Jersey Common Pension Fund D increased its position in Selective Insurance Group by 15.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 35,939 shares of the insurance provider’s stock valued at $2,945,000 after purchasing an additional 4,744 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Selective Insurance Group during the 4th quarter valued at approximately $233,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Selective Insurance Group by 31.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,969 shares of the insurance provider’s stock valued at $653,000 after purchasing an additional 1,905 shares during the period. Institutional investors own 81.37% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Morgan Stanley began coverage on shares of Selective Insurance Group in a research report on Monday, June 27th. They set an “overweight” rating and a $98.00 target price for the company.
Selective Insurance Group Stock Performance
Shares of SIGI stock opened at $79.10 on Thursday. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63. Selective Insurance Group, Inc. has a 52 week low of $66.81 and a 52 week high of $94.35. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $80.96 and a 200-day moving average of $81.75.
Selective Insurance Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 12th. Selective Insurance Group’s dividend payout ratio (DPR) is 26.23%.
About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured’s real property, personal property, and/or earnings due to the property’s loss; and 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, as well as flood insurance products.
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