Csenge Advisory Group Has $526,000 Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Csenge Advisory Group lessened its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,817 shares of the insurance provider’s stock after selling 405 shares during the period. Csenge Advisory Group’s holdings in Selective Insurance Group were worth $526,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in Selective Insurance Group by 497.7% during the 1st quarter. GSA Capital Partners LLP now owns 19,480 shares of the insurance provider’s stock valued at $2,127,000 after purchasing an additional 16,221 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Selective Insurance Group in the 1st quarter worth $48,000. Janney Montgomery Scott LLC boosted its position in shares of Selective Insurance Group by 48.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,951 shares of the insurance provider’s stock worth $650,000 after purchasing an additional 1,945 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Selective Insurance Group by 14.6% during the first quarter. BNP Paribas Financial Markets now owns 57,072 shares of the insurance provider’s stock worth $6,231,000 after acquiring an additional 7,291 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Selective Insurance Group by 4.5% during the first quarter. Retirement Systems of Alabama now owns 154,551 shares of the insurance provider’s stock worth $16,872,000 after acquiring an additional 6,667 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SIGI shares. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Bank of America dropped their price target on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research note on Thursday. Piper Sandler reissued a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a research note on Monday, April 1st. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $103.00 target price on shares of Selective Insurance Group in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.60.

Selective Insurance Group Stock Performance

NASDAQ:SIGI traded up $1.87 on Thursday, hitting $95.01. The company’s stock had a trading volume of 114,405 shares, compared to its average volume of 309,925. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $94.64 and a two-hundred day moving average of $99.94. The firm has a market capitalization of $5.78 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.54. Selective Insurance Group, Inc. has a one year low of $89.78 and a one year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. Research analysts predict that Selective Insurance Group, Inc. will post 6.8 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.47%. Selective Insurance Group’s payout ratio is currently 24.73%.

Selective Insurance Group Company 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.