Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP decreased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,912 shares of the insurance provider's stock after selling 6,686 shares during the quarter. Systematic Financial Management LP owned about 0.50% of Selective Insurance Group worth $28,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in Selective Insurance Group in the 3rd quarter worth $27,000. Quest Partners LLC acquired a new position in Selective Insurance Group in the 2nd quarter worth $28,000. GAMMA Investing LLC lifted its holdings in Selective Insurance Group by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock worth $30,000 after buying an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Selective Insurance Group in the 2nd quarter worth $44,000. Finally, KBC Group NV lifted its holdings in Selective Insurance Group by 18.1% in the 3rd quarter. KBC Group NV now owns 1,840 shares of the insurance provider's stock worth $172,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and upped their target price for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th. Morgan Stanley assumed coverage on shares of Selective Insurance Group in a research note on Thursday. They issued an "equal weight" rating and a $105.00 target price on the stock. Royal Bank of Canada upped 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, Bank of America upped their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Selective Insurance Group has an average rating of "Hold" and a consensus target price of $102.14.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI traded down $0.69 during trading on Thursday, reaching $99.20. 159,142 shares of the company's stock traded hands, compared to its average volume of 354,499. 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, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58. The company has a 50 day moving average of $95.85 and a 200-day moving average of $92.99. The stock has a market capitalization of $6.03 billion, a P/E ratio of 26.92 and a beta of 0.60.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.40 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 during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $1.51 EPS. Selective Insurance Group's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts expect that Selective Insurance Group, Inc. will post 3.59 EPS for the current year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.38 dividend. This is a boost from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.53%. Selective Insurance Group's dividend payout ratio is 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.