Truist Financial Corp Sells 14,381 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)
Truist Financial Corp decreased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 7.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 181,370 shares of the insurance provider’s stock after selling 14,381 shares during the period. Truist Financial Corp’s holdings in Selective Insurance Group were worth $16,208,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. raised its stake in Selective Insurance Group by 2.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,930 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 140 shares in the last quarter. Van ECK Associates Corp increased its position in Selective Insurance Group by 12.2% during the 4th quarter. Van ECK Associates Corp now owns 1,317 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 143 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Selective Insurance Group by 96.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 306 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Procyon Private Wealth Partners LLC increased its position in Selective Insurance Group by 0.9% during the 4th quarter. Procyon Private Wealth Partners LLC now owns 17,009 shares of the insurance provider’s stock worth $1,394,000 after purchasing an additional 153 shares in the last quarter. Finally, Fieldpoint Private Securities LLC grew its holdings in Selective Insurance Group by 2.2% during the 1st quarter. Fieldpoint Private Securities LLC now owns 7,414 shares of the insurance provider’s stock worth $663,000 after acquiring an additional 159 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Selective Insurance Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley initiated coverage on shares of Selective Insurance Group in a research note on Monday, June 27th. They issued an “overweight” rating and a $98.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and an average target price of $88.50.
SIGI opened at $88.05 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average price is $80.01 and its two-hundred day moving average price is $81.56. Selective Insurance Group, Inc. has a 1-year low of $74.29 and a 1-year high of $94.35. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 5.20 and a beta of 0.72.
Selective Insurance Group (NASDAQ:SIGI – Get Rating) last announced its earnings results on Wednesday, May 4th. The insurance provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.38 by $0.03. The company had revenue of $846.10 million during the quarter, compared to the consensus estimate of $883.09 million. Selective Insurance Group had a net margin of 10.19% and a return on equity of 13.77%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. As a group, equities analysts forecast that Selective Insurance Group, Inc. will post 5.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Monday, May 16th were issued a $0.28 dividend. The ex-dividend date was Friday, May 13th. This represents a $1.12 annualized dividend and a dividend yield of 1.27%. Selective Insurance Group’s dividend payout ratio is currently 19.86%.
Selective Insurance Group Company Profile (Get Rating)
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.
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