Citigroup Inc. Acquires 36,376 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Citigroup Inc. boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 207.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,885 shares of the insurance provider's stock after acquiring an additional 36,376 shares during the period. Citigroup Inc. owned 0.09% of Selective Insurance Group worth $5,027,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Selective Insurance Group during the third quarter worth $27,000. Quest Partners LLC bought a new position in Selective Insurance Group during the second quarter worth about $28,000. GAMMA Investing LLC grew its stake in Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 145 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Selective Insurance Group in the second quarter worth about $44,000. Finally, KBC Group NV increased its holdings in shares of Selective Insurance Group by 18.1% in the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider's stock worth $172,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 82.88% of the company's stock.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

Selective Insurance Group Stock Down 1.1 %

Shares of SIGI stock traded down $1.10 during trading on Tuesday, reaching $99.48. The company's stock had a trading volume of 194,148 shares, compared to its average volume of 356,499. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. The business has a fifty day moving average price of $95.68 and a 200-day moving average price of $92.94. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 26.81 and a beta of 0.60. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.29). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 earnings per share. Analysts anticipate that Selective Insurance Group, Inc. will post 3.59 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.38 per share. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.53%. Selective Insurance Group's payout ratio is 40.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a research report on Tuesday, October 22nd. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and upped their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Selective Insurance Group currently has a consensus rating of "Hold" and an average price target of $101.67.

Selective Insurance Group 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.