Narus Financial Partners LLC Decreases Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Narus Financial Partners LLC lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,088 shares of the insurance provider’s stock after selling 224 shares during the quarter. Narus Financial Partners LLC’s holdings in Selective Insurance Group were worth $288,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Selective Insurance Group by 81.5% in 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 during the period. Wealth Enhancement Advisory Services LLC grew its position in Selective Insurance Group by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider’s stock worth $705,000 after purchasing an additional 205 shares during the period. O Shaughnessy Asset Management LLC grew its position in Selective Insurance Group by 5.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider’s stock worth $446,000 after purchasing an additional 216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Selective Insurance Group by 2.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider’s stock worth $1,262,000 after purchasing an additional 266 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Selective Insurance Group by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider’s stock worth $1,415,000 after purchasing an additional 277 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SIGI has been the topic of several analyst reports. Piper Sandler cut their price target on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research 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 report on Wednesday, July 24th. Royal Bank of Canada dropped 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 report on Monday, July 22nd. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Finally, Bank of America raised their price target on shares of 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.50.

Selective Insurance Group Stock Down 0.2 %

Selective Insurance Group stock opened at $98.68 on Monday. Selective Insurance Group, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a 50 day moving average price of $91.17 and a 200 day moving average price of $93.81. The company has a market capitalization of $6.00 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.58 and a beta of 0.56.

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

Insiders Place Their Bets

In other Selective Insurance Group news, Director Terrence W. Cavanaugh purchased 2,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $85.85 per share, for a total transaction of $171,700.00. Following the completion of the purchase, the director now directly owns 20,651 shares in the company, valued at approximately $1,772,888.35. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

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.