Captrust Financial Advisors Acquires 2,661 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Captrust Financial Advisors grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 82.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,897 shares of the insurance provider’s stock after purchasing an additional 2,661 shares during the period. Captrust Financial Advisors’ holdings in Selective Insurance Group were worth $550,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SIGI. FMR LLC boosted its stake in shares of Selective Insurance Group by 28.6% in the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock valued at $510,239,000 after purchasing an additional 1,216,801 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Selective Insurance Group by 112.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider’s stock valued at $42,667,000 after purchasing an additional 226,387 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of Selective Insurance Group in the 3rd quarter valued at $11,767,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Selective Insurance Group by 16.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 717,946 shares of the insurance provider’s stock valued at $66,984,000 after purchasing an additional 101,045 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Selective Insurance Group by 319.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 129,184 shares of the insurance provider’s stock worth $12,053,000 after buying an additional 98,390 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

Selective Insurance Group stock opened at $96.14 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The company has a market cap of $5.84 billion, a PE ratio of 25.91 and a beta of 0.60. The company’s 50-day moving average is $96.37 and its two-hundred day moving average is $93.01.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts anticipate that Selective Insurance Group, Inc. will post 3.62 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a boost 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 1.58%. Selective Insurance Group’s dividend payout ratio is 40.97%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SIGI. Bank of America upped their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, Morgan Stanley began coverage on shares of Selective Insurance Group in a research report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.14.

Insider Activity

In related news, CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction that occurred 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 directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by company 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.