Stonebridge Financial Planning Group LLC Sells 200 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Stonebridge Financial Planning Group LLC lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,240 shares of the insurance provider’s stock after selling 200 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in Selective Insurance Group were worth $209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SIGI. V Square Quantitative Management LLC bought a new stake in Selective Insurance Group during the third quarter valued at approximately $27,000. Quest Partners LLC bought a new stake in shares of Selective Insurance Group during the 2nd quarter worth $28,000. GAMMA Investing LLC grew its position in Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Selective Insurance Group in the second quarter valued at $44,000. Finally, Lazard Asset Management LLC raised its position in Selective Insurance Group by 245.9% during the first quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider’s stock valued at $134,000 after purchasing an additional 873 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 1.0 %

Shares of Selective Insurance Group stock traded down $0.99 during midday trading on Wednesday, reaching $97.09. 305,150 shares of the company’s stock traded hands, compared to its average volume of 354,709. The stock has a 50 day moving average of $93.97 and a 200-day moving average of $92.83. Selective Insurance Group, Inc. has a 12 month low of $81.00 and a 12 month high of $109.58. The company has a market cap 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 quick ratio of 0.35 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share. As a group, equities analysts expect that Selective Insurance Group, Inc. will post 3.63 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.57%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 40.97%.

Insider Buying and Selling

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the transaction, the chief accounting officer now owns 15,946 shares in the company, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank of Canada boosted their target price 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 report on Tuesday, July 23rd. BMO Capital Markets upgraded 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 analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and an average target price of $101.67.

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.