Thrivent Financial for Lutherans Raises Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Thrivent Financial for Lutherans raised its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 14.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,565 shares of the insurance provider's stock after purchasing an additional 19,826 shares during the period. Thrivent Financial for Lutherans owned 0.26% of Selective Insurance Group worth $14,515,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings 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 in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings 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 in the last quarter. 82.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SIGI. Royal Bank of Canada upped their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. BMO Capital Markets raised Selective Insurance Group from a "market perform" rating to an "outperform" rating and upped their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Bank of America upped their price target on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Selective Insurance Group has an average rating of "Hold" and a consensus target price of $101.67.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares of the company's stock, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company's stock.

Selective Insurance Group Stock Performance

SIGI traded up $0.40 during midday trading on Thursday, reaching $96.38. The company had a trading volume of 369,957 shares, compared to its average volume of 355,587. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $94.14 and a two-hundred day moving average of $92.85. The company has a market cap of $5.86 billion, a P/E ratio of 25.96 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.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data 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%. The business's revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. As a group, equities research analysts predict that Selective Insurance Group, Inc. will post 3.63 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.38 dividend. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.58%. Selective Insurance Group's dividend payout ratio is 40.97%.

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.