Pathstone Holdings LLC Buys 412 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pathstone Holdings LLC lifted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,535 shares of the insurance provider’s stock after purchasing an additional 412 shares during the quarter. Pathstone Holdings LLC’s holdings in Selective Insurance Group were worth $2,476,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SIGI. V Square Quantitative Management LLC bought a new stake in Selective Insurance Group in the 3rd quarter worth approximately $27,000. Quest Partners LLC bought a new stake in Selective Insurance Group in the second quarter worth $28,000. GAMMA Investing LLC raised its stake in Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Selective Insurance Group during the second quarter valued at $44,000. Finally, Lazard Asset Management LLC grew its stake in shares of Selective Insurance Group by 245.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider’s stock worth $134,000 after buying an additional 873 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America raised their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price 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 issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.67.

Selective Insurance Group Price Performance

Shares of SIGI stock opened at $98.65 on Tuesday. The stock has a 50 day moving average price of $94.41 and a 200 day moving average price of $92.78. Selective Insurance Group, Inc. has a 52-week low of $81.00 and a 52-week high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $6.00 billion, a P/E ratio of 26.59 and a beta of 0.57.

Selective Insurance Group (NASDAQ:SIGI) last released 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). The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 earnings per share. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 3.59 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 15th. Selective Insurance Group’s dividend payout ratio is currently 40.97%.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.