Emerald Advisers LLC Acquires New Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Emerald Advisers LLC bought a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 126,125 shares of the insurance provider's stock, valued at approximately $11,767,000. Emerald Advisers LLC owned about 0.21% of Selective Insurance Group at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. 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 purchased a new stake in shares of Selective Insurance Group during the second quarter valued at $28,000. GAMMA Investing LLC lifted 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 valued at $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 2nd quarter valued at $44,000. Finally, Fidelis Capital Partners LLC purchased a new position in Selective Insurance Group in the 1st quarter worth about $48,000. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Stock Up 1.8 %

Shares of NASDAQ:SIGI traded up $1.59 during trading on Friday, reaching $92.41. 429,462 shares of the company traded hands, compared to its average volume of 391,377. The firm has a fifty day simple moving average of $92.07 and a 200 day simple moving average of $93.14. The firm has a market cap of $5.62 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 1.52 and a beta of 0.57. Selective Insurance Group, Inc. has a 1-year low of $81.00 and a 1-year 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.

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 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 firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the business posted $1.51 earnings per share. Selective Insurance Group's revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Selective Insurance Group, Inc. will post 3.68 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.64%. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. Selective Insurance Group's payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a research note on Tuesday, October 22nd. Piper Sandler reduced their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, July 22nd. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $95.00 to $105.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $101.67.

Insider Activity at Selective Insurance Group

In related 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 transaction of $130,024.44. Following the transaction, the chief accounting officer now 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

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.