Boston Trust Walden Corp Sells 17,866 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Boston Trust Walden Corp lowered its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 970,980 shares of the insurance provider's stock after selling 17,866 shares during the quarter. Boston Trust Walden Corp owned approximately 1.60% of Selective Insurance Group worth $90,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Selective Insurance Group during the 3rd quarter valued at $27,000. Quest Partners LLC acquired a new stake in shares of Selective Insurance Group during the second quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in shares of Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Selective Insurance Group in the second quarter valued at approximately $44,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Selective Insurance Group in the first quarter valued at approximately $48,000. Institutional investors own 82.88% of the company's stock.

Insider Activity at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the transaction, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,476,759.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Selective Insurance Group Trading Down 2.4 %

Selective Insurance Group stock traded down $2.20 during trading hours on Friday, reaching $91.37. 202,871 shares of the company's stock were exchanged, compared to its average volume of 352,281. The firm's 50 day simple moving average is $91.85 and its 200 day simple moving average is $93.52. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The company has a quick ratio of 0.32, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.55 billion, a PE ratio of 16.14, a PEG ratio of 1.57 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $1.51 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts predict that Selective Insurance Group, Inc. will post 3.76 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. Selective Insurance Group's payout ratio is currently 26.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SIGI shares. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Piper Sandler reduced their price objective on shares of Selective Insurance Group from $104.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada increased 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. Bank of America lifted 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. Finally, Keefe, Bruyette & Woods raised Selective Insurance Group from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus price target of $100.00.

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.