Edgestream Partners L.P. Sells 12,386 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Edgestream Partners L.P. reduced its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 57.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,032 shares of the insurance provider's stock after selling 12,386 shares during the period. Edgestream Partners L.P.'s holdings in Selective Insurance Group were worth $843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SIGI. Tidal Investments LLC bought a new position in Selective Insurance Group in the 1st quarter worth about $318,000. GAMMA Investing LLC lifted its stake in Selective Insurance Group by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock worth $30,000 after purchasing an additional 145 shares in the last quarter. CX Institutional boosted its holdings in Selective Insurance Group by 12.3% in the 2nd quarter. CX Institutional now owns 8,571 shares of the insurance provider's stock valued at $804,000 after purchasing an additional 941 shares during the period. SG Americas Securities LLC increased its holdings in shares of Selective Insurance Group by 262.8% in the second quarter. SG Americas Securities LLC now owns 11,138 shares of the insurance provider's stock worth $1,045,000 after purchasing an additional 8,068 shares during the period. Finally, Diversified Trust Co raised its position in shares of Selective Insurance Group by 3.6% in the second quarter. Diversified Trust Co now owns 8,814 shares of the insurance provider's stock worth $827,000 after buying an additional 303 shares in the last quarter. Institutional investors own 82.88% of the company's stock.

Selective Insurance Group Trading Down 0.7 %

SIGI traded down $0.69 on Thursday, hitting $99.20. 159,142 shares of the company were exchanged, compared to its average volume of 354,839. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a fifty day simple moving average of $95.85 and a two-hundred day simple moving average of $92.99. The stock has a market capitalization of $6.03 billion, a PE ratio of 26.92 and a beta of 0.60. Selective Insurance Group, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58.

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

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.53%. This is an increase from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. Selective Insurance Group's dividend payout ratio (DPR) is presently 40.97%.

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company's stock in a transaction that occurred on 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 directly owns 15,946 shares in the company, valued at $1,476,759.06. This represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SIGI. Bank of America upped their target price on Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a research note on Tuesday, October 22nd. Morgan Stanley initiated coverage on Selective Insurance Group in a research report on Thursday. They set an "equal weight" rating and a $105.00 price target on the stock. BMO Capital Markets upgraded Selective Insurance Group from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective on Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus price target of $102.14.

About Selective Insurance Group

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.