GW&K Investment Management LLC Has $6.46 Million Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

GW&K Investment Management LLC lessened its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,923 shares of the insurance provider’s stock after selling 2,424 shares during the period. GW&K Investment Management LLC owned about 0.11% of Selective Insurance Group worth $6,459,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Selective Insurance Group during the fourth quarter worth about $67,290,000. FMR LLC grew its holdings in shares of Selective Insurance Group by 11.5% during the third quarter. FMR LLC now owns 3,866,827 shares of the insurance provider’s stock worth $398,941,000 after purchasing an additional 398,517 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Selective Insurance Group by 14.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock valued at $118,420,000 after buying an additional 149,901 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Selective Insurance Group in the fourth quarter valued at about $8,361,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Selective Insurance Group in the 3rd quarter valued at about $5,122,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SIGI shares. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Royal Bank of Canada decreased their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and set a $120.00 price objective on shares of Selective Insurance Group in a report on Friday, April 5th. Keefe, Bruyette & Woods reduced their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $104.00 price target on shares of Selective Insurance Group in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Selective Insurance Group has an average rating of “Hold” and a consensus price target of $105.17.

Selective Insurance Group Price Performance

Shares of SIGI opened at $97.27 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $5.91 billion, a PE ratio of 17.19, a P/E/G ratio of 0.85 and a beta of 0.55. The stock has a 50 day simple moving average of $101.70 and a 200 day simple moving average of $102.00. Selective Insurance Group, Inc. has a 52-week low of $92.06 and a 52-week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.44 EPS. Sell-side analysts predict that Selective Insurance Group, Inc. will post 7 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.44%. Selective Insurance Group’s payout ratio is presently 24.74%.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the sale, the chief operating officer now owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Selective Insurance Group Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers 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; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.