Intech Investment Management LLC Invests $947,000 in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Intech Investment Management LLC purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,149 shares of the insurance provider's stock, valued at approximately $947,000.

Several other hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Selective Insurance Group in the 3rd quarter valued at about $27,000. Quest Partners LLC acquired a new position in Selective Insurance Group during the second quarter worth approximately $28,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 145 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Selective Insurance Group during the 2nd quarter worth approximately $44,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Selective Insurance Group by 245.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider's stock worth $134,000 after acquiring an additional 873 shares during the last quarter. Institutional investors own 82.88% of the company's stock.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the firm'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 sale, the chief accounting officer now owns 15,946 shares in the company, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.50% of the company's stock.

Analyst Ratings Changes

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

Selective Insurance Group Stock Performance

NASDAQ SIGI traded up $0.09 during trading on Friday, reaching $102.09. The company's stock had a trading volume of 357,035 shares, compared to its average volume of 357,566. The firm has a 50 day moving average price of $95.09 and a 200 day moving average price of $92.92. Selective Insurance Group, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 27.49 and a beta of 0.57. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced 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). The firm 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 previous year, the company earned $1.51 earnings per share. As a group, equities analysts anticipate that Selective Insurance Group, Inc. will post 3.59 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, November 15th. This is a boost from Selective Insurance Group's previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 1.49%. Selective Insurance Group's dividend payout ratio is presently 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.