Captrust Financial Advisors Raises Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Captrust Financial Advisors lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,141 shares of the insurance provider’s stock after buying an additional 244 shares during the quarter. Captrust Financial Advisors’ holdings in Selective Insurance Group were worth $574,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Boston Trust Walden Corp grew its holdings in Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock worth $98,694,000 after acquiring an additional 84,341 shares in the last quarter. Northern Trust Corp lifted its position in shares of Selective Insurance Group by 9.3% in the 4th quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider’s stock worth $98,396,000 after purchasing an additional 89,692 shares during the period. Norges Bank bought a new position in shares of Selective Insurance Group during the fourth quarter valued at approximately $93,409,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Selective Insurance Group by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider’s stock valued at $82,693,000 after purchasing an additional 16,539 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Selective Insurance Group by 15.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider’s stock valued at $77,465,000 after buying an additional 110,381 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

SIGI has been the topic of several recent research reports. Morgan Stanley dropped their target price on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upped their price objective on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. StockNews.com upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.50.

Selective Insurance Group Trading Up 0.5%

Shares of NASDAQ:SIGI opened at $89.09 on Monday. The business’s 50-day moving average is $88.51 and its 200 day moving average is $90.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $103.56. The firm has a market capitalization of $5.41 billion, a P/E ratio of 27.67 and a beta of 0.51.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Selective Insurance Group’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. On average, research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. Selective Insurance Group’s payout ratio is 41.42%.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the business’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at $1,388,258.76. The trade was a 7.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.50% 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.