Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Algert Global LLC

Algert Global LLC increased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 95.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 28,196 shares of the insurance provider’s stock after acquiring an additional 13,770 shares during the quarter. Algert Global LLC’s holdings in Selective Insurance Group were worth $2,631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Selective Insurance Group by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,416,957 shares of the insurance provider’s stock worth $132,949,000 after purchasing an additional 62,699 shares during the last quarter. Quest Partners LLC increased its stake in shares of Selective Insurance Group by 2,486.8% in the third quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock worth $712,000 after buying an additional 7,336 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in Selective Insurance Group by 9.0% in the third quarter. Mutual of America Capital Management LLC now owns 170,281 shares of the insurance provider’s stock valued at $15,887,000 after acquiring an additional 14,004 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Selective Insurance Group by 10.2% during the 3rd quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider’s stock valued at $16,770,000 after acquiring an additional 16,689 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Selective Insurance Group by 24.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 15,616 shares of the insurance provider’s stock valued at $1,457,000 after acquiring an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Insider Buying and Selling at Selective Insurance Group

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 value of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SIGI shares. Bank of America boosted their target price 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 objective on 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. Finally, BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.67.

Selective Insurance Group Stock Up 1.2 %

NASDAQ:SIGI opened at $99.80 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $94.54 and a 200-day moving average of $92.78. The firm has a market capitalization of $6.07 billion, a PE ratio of 26.90 and a beta of 0.57. 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) 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 company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $1.51 earnings per share. Selective Insurance Group’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts predict that Selective Insurance Group, Inc. will post 3.59 EPS for the current year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.38 dividend. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.52%. Selective Insurance Group’s dividend payout ratio is 40.97%.

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.