Stonebridge Financial Planning Group LLC Trims Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Stonebridge Financial Planning Group LLC cut its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 8.2% during the 3rd quarter, Holdings Channel reports. The fund owned 2,240 shares of the insurance provider’s stock after selling 200 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in Selective Insurance Group were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. 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. Lindenwold Advisors INC lifted its position in shares of Selective Insurance Group by 5.4% during the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock valued at $277,000 after buying an additional 153 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Selective Insurance Group by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider’s stock valued at $705,000 after acquiring an additional 205 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Selective Insurance Group by 5.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider’s stock worth $446,000 after acquiring an additional 216 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Selective Insurance Group by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider’s stock valued at $1,262,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Bank of America raised their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.67.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI traded down $0.99 during midday trading on Wednesday, reaching $97.09. 305,150 shares of the stock traded hands, compared to its average volume of 354,709. The company’s 50 day moving average is $93.97 and its 200 day moving average is $92.83. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. The stock has a market capitalization of $5.90 billion, a PE ratio of 26.17 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results 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 return on equity of 8.11% and a net margin of 5.01%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm posted $1.51 EPS. Selective Insurance Group’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 3.63 earnings per share 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. 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. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.57%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 40.97%.

Insiders Place Their Bets

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. Insiders own 1.00% 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.