Selective Insurance Group, Inc. $SIGI Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 62.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,447 shares of the insurance provider’s stock after purchasing an additional 12,817 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of Selective Insurance Group worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SIGI. Hsbc Holdings PLC boosted its holdings in shares of Selective Insurance Group by 1.7% during 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 last quarter. Intech Investment Management LLC lifted its position 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 worth $2,641,000 after buying an additional 3,377 shares during the period. Baird Financial Group Inc. purchased a new position in Selective Insurance Group during the first quarter worth about $1,007,000. Arkadios Wealth Advisors acquired a new stake in Selective Insurance Group in the 2nd quarter worth about $299,000. Finally, United Services Automobile Association purchased a new stake in Selective Insurance Group in the 1st quarter valued at about $355,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 1.2%

Shares of SIGI stock opened at $77.10 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $100.58. The firm’s 50 day moving average price is $79.38 and its two-hundred day moving average price is $81.53. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 11.88 and a beta of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. On average, analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.2%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 14th. Selective Insurance Group’s dividend payout ratio is 26.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Morgan Stanley boosted their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, November 17th. Finally, BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price objective for the company. in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.80.

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.