Walleye Capital LLC Purchases Shares of 6,710 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Walleye Capital LLC purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,710 shares of the insurance provider's stock, valued at approximately $626,000.

Other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Selective Insurance Group during the 3rd quarter worth $27,000. Quest Partners LLC purchased a new position in Selective Insurance Group during the second quarter worth about $28,000. GAMMA Investing LLC boosted its holdings 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Selective Insurance Group in the 2nd quarter worth about $44,000. Finally, KBC Group NV increased its stake 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 valued at $172,000 after buying an additional 282 shares during the last quarter. Institutional investors own 82.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a research note on Tuesday, October 22nd. Morgan Stanley started coverage on Selective Insurance Group in a research note on Thursday. They issued an "equal weight" rating and a $105.00 price objective for the company. BMO Capital Markets upgraded Selective Insurance Group from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $102.14.

Selective Insurance Group Stock Performance

NASDAQ:SIGI traded down $0.47 on Friday, reaching $98.73. 214,417 shares of the company's stock were exchanged, compared to its average volume of 345,881. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 26.61 and a beta of 0.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a fifty day simple moving average of $96.15 and a 200-day simple moving average of $93.02. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week 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 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 business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.51 earnings per share. The firm's quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 3.59 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, November 15th. Selective Insurance Group's dividend payout ratio (DPR) is 40.97%.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction on 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 sale, the chief accounting officer now owns 15,946 shares of the company's stock, valued at approximately $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.

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.