Selective Insurance Group, Inc. (NASDAQ:SIGI) is Tributary Capital Management LLC's 7th Largest Position

Tributary Capital Management LLC increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 313,952 shares of the insurance provider's stock after buying an additional 33,681 shares during the quarter. Selective Insurance Group comprises approximately 2.3% of Tributary Capital Management LLC's portfolio, making the stock its 7th largest position. Tributary Capital Management LLC owned about 0.52% of Selective Insurance Group worth $29,292,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SIGI. GAMMA Investing LLC raised its position 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 purchasing an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Selective Insurance Group by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider's stock valued at $705,000 after purchasing an additional 205 shares during the period. O Shaughnessy Asset Management LLC raised its position in Selective Insurance Group by 5.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider's stock valued at $446,000 after purchasing an additional 216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Selective Insurance Group by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider's stock valued at $1,262,000 after purchasing an additional 266 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Selective Insurance Group by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider's stock worth $1,415,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 82.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler cut their price objective on Selective Insurance Group from $104.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets boosted their target price on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $104.00 to $99.00 in a research note on Monday, July 22nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $100.00.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group 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 value of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares of the company's stock, valued at approximately $1,476,759.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Selective Insurance Group Stock Performance

NASDAQ SIGI traded up $0.20 during trading hours on Monday, hitting $91.57. 363,120 shares of the stock were exchanged, compared to its average volume of 352,333. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.53 and a beta of 0.56. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58. The stock has a 50-day moving average of $91.85 and a 200 day moving average of $93.44. The company has a quick ratio of 0.32, 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 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). The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.51 earnings per share. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 3.68 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. 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 dividend on an annualized basis and a yield of 1.66%. Selective Insurance Group's dividend payout ratio (DPR) is 37.74%.

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.