Boston Trust Walden Corp Grows Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

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Boston Trust Walden Corp lifted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 965,220 shares of the insurance provider’s stock after purchasing an additional 92,801 shares during the quarter. Selective Insurance Group comprises 0.8% of Boston Trust Walden Corp’s holdings, making the stock its 29th largest position. Boston Trust Walden Corp’s holdings in Selective Insurance Group were worth $99,582,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SIGI. Morgan Stanley raised its stake in shares of Selective Insurance Group by 516.0% in the fourth quarter. Morgan Stanley now owns 1,959,603 shares of the insurance provider’s stock worth $173,641,000 after purchasing an additional 1,641,463 shares during the last quarter. Norges Bank purchased a new position in shares of Selective Insurance Group in the fourth quarter worth about $41,343,000. Price T Rowe Associates Inc. MD grew its holdings in Selective Insurance Group by 317.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 525,083 shares of the insurance provider’s stock worth $46,527,000 after acquiring an additional 399,386 shares during the period. BlackRock Inc. grew its holdings in Selective Insurance Group by 3.2% during the second quarter. BlackRock Inc. now owns 7,339,403 shares of the insurance provider’s stock worth $704,216,000 after acquiring an additional 226,054 shares during the period. Finally, Eaton Vance Management grew its holdings in Selective Insurance Group by 27.0% during the first quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider’s stock worth $89,256,000 after acquiring an additional 212,085 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Oppenheimer assumed coverage on Selective Insurance Group in a report on Thursday, November 16th. They set an “outperform” rating and a $120.00 target price on the stock. StockNews.com began coverage on Selective Insurance Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada lifted their target price on Selective Insurance Group from $105.00 to $108.00 and gave the company a “sector perform” rating in a research report on Friday, November 3rd. Finally, Piper Sandler cut their price objective on Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and an average target price of $105.17.

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Insider Buying and Selling at Selective Insurance Group

In other news, CEO John J. Marchioni sold 20,906 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $102.01, for a total transaction of $2,132,621.06. Following the completion of the transaction, the chief executive officer now directly owns 120,554 shares of the company’s stock, valued at approximately $12,297,713.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Selective Insurance Group Stock Up 0.1 %

Selective Insurance Group stock opened at $98.96 on Tuesday. Selective Insurance Group, Inc. has a fifty-two week low of $87.66 and a fifty-two week high of $108.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $6.00 billion, a P/E ratio of 19.01, a PEG ratio of 0.71 and a beta of 0.57. The stock has a 50-day simple moving average of $102.57 and a 200-day simple moving average of $101.03.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last posted its earnings results on Wednesday, November 1st. The insurance provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.15). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Selective Insurance Group had a net margin of 7.97% and a return on equity of 13.86%. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities research analysts expect that Selective Insurance Group, Inc. will post 5.84 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, November 14th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 1.41%. Selective Insurance Group’s dividend payout ratio is currently 26.92%.

Selective Insurance Group Company Profile

(Free Report)

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 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; 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; and flood insurance products.

See Also

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Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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