Ceredex Value Advisors LLC Has $11.06 Million Stock Position in Selective Insurance Group, Inc. $SIGI

Ceredex Value Advisors LLC grew its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,600 shares of the insurance provider’s stock after acquiring an additional 12,275 shares during the quarter. Ceredex Value Advisors LLC owned 0.21% of Selective Insurance Group worth $11,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its position in Selective Insurance Group by 1.7% in the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock worth $922,000 after purchasing an additional 173 shares during the period. Intech Investment Management LLC boosted its holdings in Selective Insurance Group by 13.3% during the first quarter. Intech Investment Management LLC now owns 28,854 shares of the insurance provider’s stock valued at $2,641,000 after purchasing an additional 3,377 shares in the last quarter. Baird Financial Group Inc. acquired a new position in shares of Selective Insurance Group in the 1st quarter worth approximately $1,007,000. Arkadios Wealth Advisors bought a new stake in Selective Insurance Group in the second quarter valued at $299,000. Finally, United Services Automobile Association bought a new stake in shares of Selective Insurance Group in the 1st quarter worth about $355,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SIGI has been the topic of several research analyst reports. Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating for the company in a research note on Friday, October 24th. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 target price for the company. in a research note on Tuesday, October 28th. Morgan Stanley upped their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Finally, Royal Bank Of Canada started coverage on Selective Insurance Group in a report on Monday. They issued an “outperform” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.80.

Selective Insurance Group Trading Down 1.1%

Shares of NASDAQ:SIGI opened at $78.57 on Friday. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 12.11 and a beta of 0.39. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $103.56. The company’s fifty day simple moving average is $79.41 and its 200 day simple moving average is $81.81. The company has a quick ratio of 0.33, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Selective Insurance Group had a return on equity of 12.96% and a net margin of 7.78%.The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.43 dividend. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.38. This represents a $1.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 26.50%.

Selective Insurance Group Company 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.