Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,729 shares of the insurance provider’s stock after buying an additional 554 shares during the quarter. Quantinno Capital Management LP’s holdings in Selective Insurance Group were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Selective Insurance Group during the 3rd quarter valued at $27,000. Quest Partners LLC acquired a new position in Selective Insurance Group in the second quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Selective Insurance Group in the second quarter valued at about $44,000. KBC Group NV raised its stake in Selective Insurance Group by 18.1% during the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock valued at $172,000 after buying an additional 282 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Selective Insurance Group during the 2nd quarter worth approximately $188,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

SIGI opened at $96.73 on Friday. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The stock has a market cap of $5.88 billion, a PE ratio of 26.07 and a beta of 0.60. The business’s 50 day moving average is $96.53 and its 200-day moving average is $93.04. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last announced 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 net margin of 5.01% and a return on equity of 8.11%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. On average, analysts predict that Selective Insurance Group, Inc. will post 3.62 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.57%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 40.97%.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value 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. The trade was a 8.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on 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. Morgan Stanley initiated coverage on shares of Selective Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price target on the stock. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, Bank of America raised their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Selective Insurance Group currently has a consensus rating of “Hold” and an average target price of $102.14.

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.