Tompkins Financial Corp Lowers Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Tompkins Financial Corp reduced its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 12.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,256 shares of the insurance provider’s stock after selling 182 shares during the quarter. Tompkins Financial Corp’s holdings in Selective Insurance Group were worth $117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in Selective Insurance Group by 48.6% during the first quarter. Janney Montgomery Scott LLC now owns 5,951 shares of the insurance provider’s stock worth $650,000 after buying an additional 1,945 shares during the period. SG Americas Securities LLC grew its holdings in shares of Selective Insurance Group by 53.4% in the 1st quarter. SG Americas Securities LLC now owns 3,070 shares of the insurance provider’s stock worth $335,000 after acquiring an additional 1,069 shares during the period. Illinois Municipal Retirement Fund increased its stake in Selective Insurance Group by 66.4% in 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. Swiss National Bank raised its holdings in Selective Insurance Group by 0.3% during the first quarter. Swiss National Bank now owns 119,600 shares of the insurance provider’s stock worth $13,057,000 after purchasing an additional 300 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Selective Insurance Group by 6.8% during the first quarter. Russell Investments Group Ltd. now owns 64,939 shares of the insurance provider’s stock worth $7,089,000 after purchasing an additional 4,161 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 2.0 %

SIGI stock opened at $99.88 on Friday. The company has a 50 day moving average price of $92.70 and a two-hundred day moving average price of $92.94. 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 stock has a market capitalization of $6.07 billion, a P/E ratio of 26.92, a PEG ratio of 1.66 and a beta of 0.57. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 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 in the prior year, the firm earned $1.51 EPS. Selective Insurance Group’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Selective Insurance Group, Inc. will post 3.66 EPS for the current year.

Selective Insurance Group Increases Dividend

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

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of research analyst reports. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Bank of America lifted 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 raised their price objective 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, October 23rd. Finally, Keefe, Bruyette & Woods upgraded 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 report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.67.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This trade 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 is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.