Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Fmr LLC

FMR LLC raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 28.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,468,801 shares of the insurance provider's stock after purchasing an additional 1,216,801 shares during the period. FMR LLC owned about 9.00% of Selective Insurance Group worth $510,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Selective Insurance Group in the third quarter valued at about $27,000. Quest Partners LLC bought a new stake in shares of Selective Insurance Group in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC raised its position in shares of Selective Insurance Group by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Selective Insurance Group during the second quarter worth $44,000. Finally, Lazard Asset Management LLC boosted its holdings in 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 during the period. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI traded up $0.09 during midday trading on Friday, hitting $102.09. 357,035 shares of the company's stock were exchanged, compared to its average volume of 357,566. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The firm has a market cap of $6.21 billion, a P/E ratio of 27.52 and a beta of 0.57. The stock's 50 day moving average price is $95.33 and its 200-day moving average price is $92.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.29). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates 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 was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 EPS. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 3.59 EPS 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 paid a dividend of $0.38 per share. This is a boost from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.49%. Selective Insurance Group's dividend payout ratio (DPR) is presently 40.97%.

Analysts Set New Price Targets

A number of analysts have weighed in on SIGI shares. Royal Bank of Canada increased 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 report on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Finally, Bank of America lifted their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a research note on Tuesday, October 22nd. One 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, the stock has an average rating of "Hold" and a consensus price target of $101.67.

Selective Insurance Group Company 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.