Wealth Enhancement Advisory Services LLC Sells 150 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Wealth Enhancement Advisory Services LLC lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,360 shares of the insurance provider’s stock after selling 150 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Selective Insurance Group were worth $687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SIGI. V Square Quantitative Management LLC purchased a new stake in Selective Insurance Group during the third quarter valued at approximately $27,000. Quest Partners LLC purchased a new stake in shares of Selective Insurance Group in the 2nd quarter worth $28,000. GAMMA Investing LLC raised its holdings in Selective Insurance Group by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 145 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Selective Insurance Group in the 2nd quarter worth $44,000. Finally, Fidelis Capital Partners LLC purchased a new position in Selective Insurance Group during the first quarter valued at $48,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI opened at $98.92 on Thursday. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 1.54 and a beta of 0.57. The firm has a fifty day moving average price of $92.38 and a 200 day moving average price of $93.00. 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 debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. As a group, sell-side analysts expect that Selective Insurance Group, Inc. will post 3.68 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, November 15th. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s dividend payout ratio (DPR) is currently 37.74%.

Analyst Ratings Changes

A number of brokerages have commented on SIGI. 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 research report on Wednesday, October 23rd. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Piper Sandler lowered their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Bank of America increased their price objective 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. Finally, Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and an average price target of $101.67.

Insider Buying and Selling at Selective Insurance Group

In other 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 transaction of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.