Corebridge Financial Inc. Sells 5,400 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Corebridge Financial Inc. trimmed its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,612 shares of the insurance provider's stock after selling 5,400 shares during the period. Corebridge Financial Inc. owned 0.16% of Selective Insurance Group worth $9,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of SIGI. FMR LLC grew its stake in shares of Selective Insurance Group by 28.6% during the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock worth $510,239,000 after acquiring an additional 1,216,801 shares during the period. State Street Corp boosted its position in Selective Insurance Group by 3.1% during the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider's stock worth $224,097,000 after purchasing an additional 71,296 shares during the period. Geode Capital Management LLC increased its stake in shares of Selective Insurance Group by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider's stock worth $148,048,000 after purchasing an additional 26,880 shares in the last quarter. Boston Trust Walden Corp raised its position in shares of Selective Insurance Group by 8.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock valued at $98,694,000 after purchasing an additional 84,341 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Selective Insurance Group by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock valued at $82,693,000 after buying an additional 16,539 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

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Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock traded up $0.42 during trading on Tuesday, hitting $91.96. The stock had a trading volume of 287,044 shares, compared to its average volume of 375,280. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 28.56 and a beta of 0.54. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $106.95. The business's 50-day moving average is $86.50 and its 200 day moving average is $91.88. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. As a group, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. Selective Insurance Group's dividend payout ratio is presently 47.20%.

Analyst Ratings Changes

A number of research firms recently weighed in on SIGI. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their price objective on Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.71.

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.