Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 51.9% during the third quarter, HoldingsChannel.com reports. The fund owned 4,211 shares of the insurance provider’s stock after acquiring an additional 1,438 shares during the quarter. Sanctuary Advisors LLC’s holdings in Selective Insurance Group were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co purchased a new position in Selective Insurance Group during the 3rd quarter valued at about $345,000. Geode Capital Management LLC increased its stake in shares of Selective Insurance Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $148,048,000 after purchasing an additional 26,880 shares in the last quarter. Barclays PLC raised its position in shares of Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock worth $10,711,000 after purchasing an additional 72,530 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Selective Insurance Group by 8.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 82,368 shares of the insurance provider’s stock valued at $7,685,000 after buying an additional 6,353 shares in the last quarter. Finally, First National Bank of Omaha grew its holdings in Selective Insurance Group by 2.4% during the 3rd quarter. First National Bank of Omaha now owns 30,217 shares of the insurance provider’s stock valued at $2,819,000 after buying an additional 705 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $95.14 on Friday. The company has a market cap of $5.78 billion, a P/E ratio of 25.64 and a beta of 0.60. The firm’s 50 day moving average is $96.62 and its two-hundred day moving average is $92.99. 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 quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share 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 firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business posted $1.51 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Selective Insurance Group, Inc. will post 3.61 EPS 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 paid 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 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, November 15th. Selective Insurance Group’s payout ratio is currently 40.97%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SIGI. Morgan Stanley started coverage on Selective Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price target for the company. Bank of America upped their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. One 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, the company presently has a consensus rating of “Hold” and a consensus price target of $102.14.

Insider Buying and Selling

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at $1,476,759.06. The trade was a 8.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% 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.