Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by ProShare Advisors LLC

Defense World · Oct 24, 2022 18:42

ProShare Advisors LLC decreased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 31.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,295 shares of the insurance provider's stock after selling 6,600 shares during the quarter. ProShare Advisors LLC's holdings in Selective Insurance Group were worth $1,244,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Yousif Capital Management LLC grew its holdings in shares of Selective Insurance Group by 5.2% during the second quarter. Yousif Capital Management LLC now owns 33,693 shares of the insurance provider's stock worth $2,929,000 after purchasing an additional 1,655 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Selective Insurance Group by 6.3% during the second quarter. Russell Investments Group Ltd. now owns 60,731 shares of the insurance provider's stock worth $5,279,000 after purchasing an additional 3,578 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Selective Insurance Group during the second quarter worth about $4,300,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Selective Insurance Group during the second quarter worth about $1,522,000. Finally, Strs Ohio grew its holdings in shares of Selective Insurance Group by 4.7% during the second quarter. Strs Ohio now owns 128,600 shares of the insurance provider's stock worth $11,180,000 after purchasing an additional 5,800 shares during the last quarter. Hedge funds and other institutional investors own 83.50% of the company's stock.

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Insider Activity at Selective Insurance Group

In related news, Director Cynthia S. Nicholson sold 6,600 shares of the firm's stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $83.23, for a total value of $549,318.00. Following the completion of the sale, the director now owns 19,885 shares in the company, valued at $1,655,028.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $91.82 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.21. Selective Insurance Group, Inc. has a 52-week low of $66.81 and a 52-week high of $94.35. The business's 50-day moving average price is $83.15 and its 200 day moving average price is $81.97. The firm has a market cap of $5.54 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.02 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). The company had revenue of $907.60 million for the quarter, compared to analysts' expectations of $878.86 million. Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.73%. On average, equities research analysts expect that Selective Insurance Group, Inc. will post 5.36 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a $0.28 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.12 dividend on an annualized basis and a yield of 1.22%. Selective Insurance Group's payout ratio is currently 26.23%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SIGI. Morgan Stanley began coverage on Selective Insurance Group in a report on Monday, June 27th. They set an "overweight" rating and a $98.00 price target on the stock. StockNews.com began coverage on Selective Insurance Group in a report on Wednesday, October 12th. They set a "hold" rating on the stock.

About Selective Insurance Group

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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.