Sanctuary Advisors LLC Invests $278,000 in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Sanctuary Advisors LLC purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,773 shares of the insurance provider’s stock, valued at approximately $278,000.

A number of other hedge funds have also recently added to or reduced their stakes in SIGI. Vanguard Group Inc. boosted its holdings in Selective Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 6,206,485 shares of the insurance provider’s stock worth $617,421,000 after purchasing an additional 41,276 shares during the period. CWM LLC boosted its holdings in Selective Insurance Group by 2,015.6% in the first quarter. CWM LLC now owns 3,808 shares of the insurance provider’s stock worth $416,000 after purchasing an additional 3,628 shares during the period. Ballentine Partners LLC acquired a new position in Selective Insurance Group in the first quarter worth $204,000. RMR Wealth Builders boosted its holdings in Selective Insurance Group by 12.4% in the first quarter. RMR Wealth Builders now owns 2,547 shares of the insurance provider’s stock worth $278,000 after purchasing an additional 281 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in Selective Insurance Group by 16.7% in the first quarter. Procyon Advisors LLC now owns 12,875 shares of the insurance provider’s stock worth $1,406,000 after purchasing an additional 1,839 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SIGI shares. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. BMO Capital Markets raised their target price on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada cut their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research note on Monday, July 22nd. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, Bank of America raised their target price on Selective Insurance Group from $89.00 to $96.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.50.

Insiders Place Their Bets

In other Selective Insurance Group news, CEO John J. Marchioni purchased 2,400 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were purchased at an average cost of $83.56 per share, for a total transaction of $200,544.00. Following the completion of the transaction, the chief executive officer now owns 136,397 shares in the company, valued at $11,397,333.32. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Selective Insurance Group news, CEO John J. Marchioni purchased 2,400 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were purchased at an average cost of $83.56 per share, for a total transaction of $200,544.00. Following the completion of the transaction, the chief executive officer now owns 136,397 shares in the company, valued at $11,397,333.32. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average cost of $85.85 per share, for a total transaction of $171,700.00. Following the purchase, the director now directly owns 20,651 shares in the company, valued at $1,772,888.35. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $98.68 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. The firm’s 50-day simple moving average is $91.17 and its 200 day simple moving average is $93.88. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.00 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.58 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Equities analysts expect that Selective Insurance Group, Inc. will post 3.83 EPS for the current year.

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.