Rhumbline Advisers lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,464 shares of the insurance provider’s stock after purchasing an additional 16,641 shares during the quarter. Rhumbline Advisers owned about 0.39% of Selective Insurance Group worth $20,210,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P boosted its position in shares of Selective Insurance Group by 0.5% during the second quarter. Martingale Asset Management L P now owns 28,035 shares of the insurance provider’s stock valued at $2,438,000 after purchasing an additional 130 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Selective Insurance Group by 4.6% during the first quarter. Mackenzie Financial Corp now owns 3,359 shares of the insurance provider’s stock valued at $300,000 after purchasing an additional 147 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Selective Insurance Group by 19.3% during the second quarter. Fifth Third Bancorp now owns 1,025 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 166 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Selective Insurance Group by 2.4% during the second quarter. State of Alaska Department of Revenue now owns 8,671 shares of the insurance provider’s stock valued at $753,000 after purchasing an additional 200 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Selective Insurance Group by 37.3% during the first quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 203 shares in the last quarter. 83.50% of the stock is currently owned by institutional investors.
Insider Transactions at Selective Insurance Group
In other news, Director J Brian Thebault sold 3,269 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $93.28, for a total value of $304,932.32. Following the completion of the transaction, the director now owns 51,500 shares in the company, valued at $4,803,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.
Selective Insurance Group Stock Up 0.9 %
SIGI stock opened at $95.38 on Friday. Selective Insurance Group, Inc. has a 1-year low of $66.81 and a 1-year high of $98.80. The business has a fifty day moving average price of $89.41 and a 200-day moving average price of $83.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $5.75 billion, a P/E ratio of 25.43, a P/E/G ratio of 2.86 and a beta of 0.62.
Selective Insurance Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.30 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.28. Selective Insurance Group’s payout ratio is currently 32.00%.
Wall Street Analyst Weigh In
Several research firms have commented on SIGI. StockNews.com began coverage on Selective Insurance Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Janney Montgomery Scott began coverage on Selective Insurance Group in a report on Friday, November 11th. They issued a “neutral” rating and a $96.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday.
About Selective Insurance Group
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Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured’s real property, personal property, and/or earnings due to the property’s loss; and 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, as well as flood insurance products.
Further Reading
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