GSA Capital Partners LLP Has $2.26 Million Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

GSA Capital Partners LLP raised its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 237.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,207 shares of the insurance provider's stock after acquiring an additional 17,034 shares during the quarter. GSA Capital Partners LLP's holdings in Selective Insurance Group were worth $2,259,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SIGI. V Square Quantitative Management LLC acquired a new stake in shares of Selective Insurance Group in the 3rd quarter worth about $27,000. Quest Partners LLC acquired a new position in Selective Insurance Group during the 2nd quarter worth $28,000. GAMMA Investing LLC grew its stake in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock worth $30,000 after purchasing an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Selective Insurance Group during the second quarter valued at about $44,000. Finally, Lazard Asset Management LLC increased its stake in Selective Insurance Group by 245.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider's stock valued at $134,000 after buying an additional 873 shares during the period. Institutional investors own 82.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SIGI. Bank of America boosted their target price on Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a report on Tuesday, October 22nd. Piper Sandler decreased their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised Selective Insurance Group from a "market perform" rating to an "outperform" rating and cut their target price for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price objective on Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Finally, JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $101.67.

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,476,759.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company's stock.

Selective Insurance Group Stock Down 0.3 %

SIGI stock traded down $0.32 during mid-day trading on Tuesday, hitting $100.92. The stock had a trading volume of 24,546 shares, compared to its average volume of 354,992. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.68 and a beta of 0.57. The company has a fifty day moving average of $92.91 and a 200 day moving average of $92.86. Selective Insurance Group, Inc. has a 1-year low of $81.00 and a 1-year high of $109.58. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business's revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. On average, equities analysts expect that Selective Insurance Group, Inc. will post 3.66 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. Selective Insurance Group's dividend payout ratio (DPR) is presently 37.74%.

About Selective Insurance Group

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.