Natixis Advisors LLC Grows Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Natixis Advisors LLC grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,577 shares of the insurance provider's stock after buying an additional 28,819 shares during the quarter. Natixis Advisors LLC owned 0.26% of Selective Insurance Group worth $14,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in 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 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 worth $705,000 after acquiring 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 worth $446,000 after acquiring 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 worth $1,262,000 after acquiring an additional 266 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Selective Insurance Group by 1.9% in 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.

Selective Insurance Group Stock Down 0.9 %

Shares of Selective Insurance Group stock traded down $0.90 on Wednesday, reaching $96.19. The stock had a trading volume of 116,965 shares, compared to its average volume of 353,905. The company has a 50 day moving average price of $93.97 and a 200 day moving average price of $92.83. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The stock has a market capitalization of $5.85 billion, a P/E ratio of 26.17 and a beta of 0.57.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The firm's revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 3.63 EPS for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is 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 currently 40.97%.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction 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 transaction, the chief accounting officer now directly owns 15,946 shares of the company's stock, valued at $1,476,759.06. The trade was a 8.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SIGI. Bank of America raised 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 report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus price target of $101.67.

Selective Insurance Group 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.