Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Financial Strategies Group Inc.

Financial Strategies Group Inc. raised its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 27.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,019 shares of the insurance provider’s stock after acquiring an additional 1,075 shares during the period. Financial Strategies Group Inc.’s holdings in Selective Insurance Group were worth $481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SIGI. BNP Paribas Financial Markets lifted its holdings in shares of Selective Insurance Group by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 57,072 shares of the insurance provider’s stock valued at $6,231,000 after buying an additional 7,291 shares during the period. Janney Montgomery Scott LLC boosted its position in Selective Insurance Group by 48.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,951 shares of the insurance provider’s stock worth $650,000 after purchasing an additional 1,945 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Selective Insurance Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 53,073 shares of the insurance provider’s stock worth $5,794,000 after purchasing an additional 733 shares during the period. SG Americas Securities LLC grew its stake in shares of Selective Insurance Group by 53.4% during the 1st quarter. SG Americas Securities LLC now owns 3,070 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 1,069 shares during the period. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of Selective Insurance Group by 66.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,742 shares of the insurance provider’s stock valued at $1,282,000 after purchasing an additional 4,685 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SIGI shares. Royal Bank of Canada upped their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Bank of America increased their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Piper Sandler cut their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.67.

Selective Insurance Group Price Performance

Shares of SIGI stock opened at $97.90 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $5.95 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. The firm’s 50-day moving average is $92.52 and its two-hundred day moving average is $93.03. Selective Insurance Group, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) 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 business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned $1.51 EPS. Selective Insurance Group’s revenue was up 15.1% compared to the same quarter last year. Analysts predict that Selective Insurance Group, Inc. will post 3.66 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. 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 1.55%. The ex-dividend date is Friday, November 15th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 37.74%.

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.