Manulife takes new $5.5M stake in Selective Insurance
What's the deal? The Manufacturers Life Insurance CompanyDealroom has a profile for this one. Try Dealroom → bought a new position in Selective Insurance GroupDealroom has a profile for this one. Try Dealroom → (NASDAQ: SIGI) during the second quarter, according to HoldingsChannel.com. It acquired 56,653 shares valued at roughly $5,496,000.
What does the company do? Selective Insurance Group is a US-based insurance provider. Its shares opened at $91.29 on Tuesday, down 1.3%, giving the stock a 50-day moving average of $95.16 and a 200-day average of $87.61.
Who else is buying? Other institutions adjusted their holdings recently. Dimensional Fund AdvisorsDealroom has a profile for this one. Try Dealroom → lifted its stake 3.4% in the first quarter to 1,359,224 shares worth $102,473,000, while UBS GroupDealroom has a profile for this one. Try Dealroom → raised its position 46.1% to 237,076 shares valued at $19,836,000. Principal Financial GroupDealroom has a profile for this one. Try Dealroom → increased its holdings 92.2% to 253,223 shares.
Why it matters: Institutional investors now own 82.88% of Selective's stock, underscoring heavy professional ownership. Company insiders hold 0.82%.
What are analysts saying? Views are mixed. BMO Capital MarketsDealroom has a profile for this one. Try Dealroom → downgraded the stock to "market perform" with a $97 target, while Royal Bank of CanadaDealroom has a profile for this one. Try Dealroom → raised its target to $115 with an "outperform" rating. Across eight analysts — three Buy, four Hold, and one Sell — the consensus is "Hold" with an average target of $100.33.
The signal: A fresh multimillion-dollar entry alongside continued institutional buying points to steady interest in Selective, even as analysts stay split on the stock's near-term direction.
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