Geode Capital Management LLC Acquires 26,880 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Geode Capital Management LLC raised its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,586,527 shares of the insurance provider's stock after buying an additional 26,880 shares during the quarter. Geode Capital Management LLC owned about 2.61% of Selective Insurance Group worth $148,048,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SIGI. Barclays PLC boosted its stake in Selective Insurance Group by 171.6% during the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after buying an additional 72,530 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Selective Insurance Group by 2,486.8% in the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider's stock valued at $712,000 after purchasing an additional 7,336 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Selective Insurance Group by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,416,957 shares of the insurance provider's stock valued at $132,949,000 after purchasing an additional 62,699 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Selective Insurance Group by 9.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 170,281 shares of the insurance provider's stock worth $15,887,000 after purchasing an additional 14,004 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider's stock worth $80,956,000 after purchasing an additional 21,374 shares in the last quarter. 82.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SIGI. Morgan Stanley began coverage on Selective Insurance Group in a report on Thursday, December 5th. They issued an "equal weight" rating and a $105.00 target price on the stock. BMO Capital Markets upgraded Selective Insurance Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Bank of America increased their target price on Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Selective Insurance Group presently has an average rating of "Hold" and an average target price of $102.14.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the sale, the chief accounting officer now owns 15,946 shares in the company, valued at approximately $1,476,759.06. The trade was a 8.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by insiders.

Selective Insurance Group Trading Down 2.3 %

Shares of SIGI stock traded down $2.21 on Tuesday, hitting $95.30. The stock had a trading volume of 260,845 shares, compared to its average volume of 351,978. The firm has a market cap of $5.79 billion, a P/E ratio of 25.69 and a beta of 0.60. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $96.66 and a two-hundred day moving average price of $93.03.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $1.51 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Selective Insurance Group, Inc. will post 3.61 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, November 15th. This is a boost from Selective Insurance Group's previous quarterly dividend of $0.35. Selective Insurance Group's dividend payout ratio is 40.97%.

Selective Insurance Group Company 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.