Blue Trust Inc. Sells 812 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Blue Trust Inc. lessened its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 31.0% during the third quarter, HoldingsChannel.com reports. The fund owned 1,808 shares of the insurance provider’s stock after selling 812 shares during the period. Blue Trust Inc.’s holdings in Selective Insurance Group were worth $170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Selective Insurance Group during the 3rd quarter worth approximately $27,000. Quest Partners LLC bought a new stake in Selective Insurance Group during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC increased its holdings in Selective Insurance Group by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 145 shares during the period. Fidelis Capital Partners LLC bought a new stake in Selective Insurance Group during the 1st quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Selective Insurance Group in the 2nd quarter worth approximately $44,000. Institutional investors own 82.88% of the company’s stock.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,476,759.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $91.37 on Friday. Selective Insurance Group, Inc. has a 52-week low of $81.00 and a 52-week high of $109.58. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.57 and a beta of 0.56. The company has a fifty day moving average of $91.85 and a 200-day moving average of $93.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $1.51 EPS. Selective Insurance Group’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Selective Insurance Group, Inc. will post 3.76 EPS 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. Investors of record on Friday, November 15th will be issued 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 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, November 15th. Selective Insurance Group’s dividend payout ratio is currently 26.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $104.00 to $99.00 in a research note on Monday, July 22nd. Royal Bank of Canada boosted 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 note on Wednesday. BMO Capital Markets boosted their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, Bank of America boosted 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 note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given 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 $100.00.

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.