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

Edgestream Partners L.P. grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 62.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,447 shares of the insurance provider’s stock after purchasing an additional 12,817 shares during the period. Edgestream Partners L.P.’s holdings in Selective Insurance Group were worth $2,898,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Selective Insurance Group by 2.0% in the first quarter. Vanguard Group Inc. now owns 6,756,225 shares of the insurance provider’s stock valued at $618,465,000 after purchasing an additional 135,324 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Selective Insurance Group by 2.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,150,662 shares of the insurance provider’s stock valued at $99,705,000 after buying an additional 22,410 shares during the last quarter. Boston Trust Walden Corp boosted its position in Selective Insurance Group by 6.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,109,922 shares of the insurance provider’s stock valued at $96,175,000 after buying an additional 63,255 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Selective Insurance Group by 0.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 897,554 shares of the insurance provider’s stock valued at $77,773,000 after acquiring an additional 5,683 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Selective Insurance Group by 8.4% during the first quarter. Raymond James Financial Inc. now owns 805,704 shares of the insurance provider’s stock worth $73,755,000 after acquiring an additional 62,503 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Trading Down 1.2%

Selective Insurance Group stock opened at $77.10 on Friday. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $100.58. The firm’s 50-day moving average is $79.38 and its 200-day moving average is $81.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market cap of $4.66 billion, a P/E 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 for the quarter, topping the consensus estimate of $1.71 by $0.04. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. Selective Insurance Group’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on SIGI. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Morgan Stanley upped their target price on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, November 17th. Royal Bank Of Canada initiated coverage on Selective Insurance Group in a research note on Monday, November 24th. They set an “outperform” rating and a $95.00 target price for the company. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and an average price target 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.