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Swedbank AB Takes Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Selective Insurance Group logo with Finance background

Swedbank AB purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,000 shares of the insurance provider's stock, valued at approximately $2,338,000.

A number of other large investors have also recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in Selective Insurance Group by 6.5% in the second quarter. Bank of Montreal Can now owns 8,526 shares of the insurance provider's stock worth $838,000 after purchasing an additional 524 shares in the last quarter. Millennium Management LLC boosted its stake in Selective Insurance Group by 233.6% in the second quarter. Millennium Management LLC now owns 106,239 shares of the insurance provider's stock worth $9,968,000 after purchasing an additional 74,390 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Selective Insurance Group in the second quarter worth $278,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Selective Insurance Group in the second quarter worth $44,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Selective Insurance Group by 24.8% during the third quarter. Handelsbanken Fonder AB now owns 15,616 shares of the insurance provider's stock valued at $1,457,000 after acquiring an additional 3,100 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SIGI shares. Keefe, Bruyette & Woods upped their price target on Selective Insurance Group from $114.00 to $116.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Royal Bank of Canada upped their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley cut their price target 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. Finally, Bank of America raised their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Selective Insurance Group presently has a consensus rating of "Hold" and a consensus target price of $102.00.

Check Out Our Latest Research Report on Selective Insurance Group

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded up $2.09 during midday trading on Wednesday, reaching $85.58. 432,223 shares of the company's stock were exchanged, compared to its average volume of 415,036. Selective Insurance Group, Inc. has a 52 week low of $80.84 and a 52 week high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.34. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 26.58 and a beta of 0.61. The stock's 50-day simple moving average is $93.68 and its 200 day simple moving average is $92.61.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS 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%. On average, analysts expect that Selective Insurance Group, Inc. will post 7.77 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group's dividend payout ratio is presently 47.21%.

Selective Insurance Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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