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Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Amalgamated Bank

Defense World · Sep 23, 2022 05:22

Amalgamated Bank lessened its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,289 shares of the insurance provider's stock after selling 1,661 shares during the quarter. Amalgamated Bank owned 0.06% of Selective Insurance Group worth $3,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SIGI. Rockefeller Capital Management L.P. increased its stake in shares of Selective Insurance Group by 96.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 306 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Covestor Ltd increased its stake in shares of Selective Insurance Group by 37.3% in the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider's stock valued at $67,000 after purchasing an additional 203 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Selective Insurance Group by 15.9% in the 1st quarter. Van ECK Associates Corp now owns 1,527 shares of the insurance provider's stock valued at $136,000 after purchasing an additional 210 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Selective Insurance Group in the 1st quarter valued at about $201,000. Finally, CIBC Asset Management Inc purchased a new stake in Selective Insurance Group during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 83.50% of the company's stock.

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Insider Transactions at Selective Insurance Group

In other news, Director Cynthia S. Nicholson sold 6,600 shares of the business's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $83.23, for a total transaction of $549,318.00. Following the transaction, the director now directly owns 19,885 shares in the company, valued at approximately $1,655,028.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley assumed coverage on Selective Insurance Group in a research note on Monday, June 27th. They set an "overweight" rating and a $98.00 price objective for the company.

Selective Insurance Group Trading Down 1.7 %

Shares of Selective Insurance Group stock opened at $81.17 on Friday. The stock has a market cap of $4.90 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.78 and a beta of 0.61. The stock's 50 day simple moving average is $80.56 and its 200-day simple moving average is $82.18. Selective Insurance Group, Inc. has a 1-year low of $66.81 and a 1-year high of $94.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.30 and a quick ratio of 0.30.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, August 12th. Selective Insurance Group's dividend payout ratio is currently 26.23%.

Selective Insurance Group Profile

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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.