Charles Schwab Investment Management Inc. Purchases 21,374 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Charles Schwab Investment Management Inc. grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 867,691 shares of the insurance provider's stock after purchasing an additional 21,374 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.43% of Selective Insurance Group worth $80,956,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in shares of Selective Insurance Group during the 3rd quarter valued at $27,000. Quest Partners LLC purchased a new stake in Selective Insurance Group during the second quarter valued at about $28,000. GAMMA Investing LLC boosted 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 worth $30,000 after purchasing an additional 145 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Selective Insurance Group during the second quarter worth about $44,000. Finally, Lazard Asset Management LLC increased its stake in shares of Selective Insurance Group by 245.9% in the first quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider's stock worth $134,000 after purchasing an additional 873 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the 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 owns 15,946 shares of the company's stock, valued at $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SIGI has been the topic of a number of recent research reports. BMO Capital Markets raised shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Bank of America raised their price target on Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $101.67.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock traded up $2.20 during trading on Thursday, hitting $102.00. The stock had a trading volume of 428,646 shares, compared to its average volume of 357,568. 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, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 27.49 and a beta of 0.57. The business's 50-day moving average is $94.89 and its 200 day moving average is $92.86.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.29). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. Selective Insurance Group's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. As a group, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 3.59 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. Investors of record on Friday, November 15th will be paid a $0.38 dividend. This is an increase 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 1.49%. The ex-dividend date of this dividend is Friday, November 15th. Selective Insurance Group's dividend payout ratio (DPR) is currently 40.97%.

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.