Selective Insurance Group: Institutional Investments & Market Performance
Intech Investment Management LLC has significantly increased its investment in Selective Insurance Group, Inc., according to their latest SEC 13F filing. During the fourth quarter, the firm expanded its holding by 138%, acquiring an additional 36,351 shares, and now owns a total of 62,686 shares valued at approximately $5.25 million. This adjustment highlights a growing interest among institutional investors in the company, emphasizing the insurance carrier's potential for future growth.
Other investment firms have also adjusted their positions. True Wealth Design LLC expanded its stake by 45.9%, Amundi by nearly 400%, Rothschild Investment LLC by 680%, and MassMutual Private Wealth & Trust FSB by 38.4%. First Horizon Corp reported a 52.8% increase in its holdings. Collectively, institutional investors account for 82.88% of Selective Insurance Group's stock, underscoring the company's strong market presence.
Market Analysts’ Ratings and Financial Performance
Research analysts have provided various ratings on Selective Insurance Group's stock. BMO Capital Markets upgraded its rating and increased the price target from $84 to $97, while Keefe, Bruyette & Woods revised their target to $88 with a market perform rating. Piper Sandler maintained a neutral rating with a boost to $93 and Royal Bank of Canada's outperform rating with a $95 target. Market analysts give the stock an average hold rating with a price target of $91.67, based on data from MarketBeat.
The company's stock opened at $86.54 on Monday, showing steady performance with simple moving averages of $82.21 over 50 days and $82.15 over 200 days. Recent financial reports revealed a quarterly EPS of $1.69 on revenue of $1.36 billion. Although the EPS missed the consensus expectation of $1.81, revenue surpassed projections, marking a 5.7% increase in revenue compared to last year.
Selective Insurance Group has declared a quarterly dividend of $0.43 per share, payable to investors recorded as of May 15th, with an annualized yield of 2.0% based on this distribution. The payout ratio stands at 23.53%, reflecting a stable financial footing.
Headquartered in New Jersey, Selective Insurance Group is a holding company focusing on property and casualty insurance. Since becoming a publicly traded entity in 1999, it has expanded through acquisitions and organic growth, serving both commercial and personal lines of insurance with a commitment to providing comprehensive risk management solutions.