Boston Trust Walden Corp Reduces Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Boston Trust Walden Corp lowered its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 970,980 shares of the insurance provider’s stock after selling 17,866 shares during the period. Boston Trust Walden Corp’s holdings in Selective Insurance Group were worth $90,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP purchased a new stake in Selective Insurance Group in the first quarter worth approximately $55,468,000. Allspring Global Investments Holdings LLC raised its position in Selective Insurance Group by 15,444.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,721 shares of the insurance provider’s stock worth $1,935,000 after acquiring an additional 17,607 shares during the period. Vanguard Group Inc. raised its position in Selective Insurance Group by 5.9% in the first quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock worth $717,735,000 after acquiring an additional 367,987 shares during the period. Dimensional Fund Advisors LP raised its position in Selective Insurance Group by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,416,957 shares of the insurance provider’s stock worth $132,949,000 after acquiring an additional 62,699 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Selective Insurance Group by 32.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,798 shares of the insurance provider’s stock worth $3,908,000 after acquiring an additional 8,807 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction on Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SIGI shares. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Bank of America increased their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday. Royal Bank of Canada increased their price target on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. Finally, BMO Capital Markets increased their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and an average price target of $100.00.

Selective Insurance Group Price Performance

Shares of SIGI stock traded down $2.20 on Friday, hitting $91.37. 202,871 shares of the stock traded hands, compared to its average volume of 352,281. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.32. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.57 and a beta of 0.56. The firm has a 50 day simple moving average of $91.85 and a two-hundred day simple moving average of $93.59. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. As a group, equities research analysts predict that Selective Insurance Group, Inc. will post 3.76 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, November 15th. Selective Insurance Group’s payout ratio is currently 26.86%.

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.