Prudential Financial Inc. raised its holdings in Selective Insurance Group (NASDAQ:SIGI) by 28.8% during the 3rd quarter, Holdings Channel reports. The fund owned 138,637 shares of the insurance provider’s stock after buying an additional 30,976 shares during the period. Prudential Financial Inc.’s holdings in Selective Insurance Group were worth $8,803,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. McQueen Ball & Associates Inc. bought a new position in Selective Insurance Group in the 3rd quarter valued at $219,000. Northern Trust Corp grew its position in Selective Insurance Group by 5.1% in the 2nd quarter. Northern Trust Corp now owns 1,414,324 shares of the insurance provider’s stock valued at $77,788,000 after acquiring an additional 68,680 shares during the last quarter. Voya Investment Management LLC grew its position in Selective Insurance Group by 3.7% in the 2nd quarter. Voya Investment Management LLC now owns 449,961 shares of the insurance provider’s stock valued at $24,747,000 after acquiring an additional 15,914 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in Selective Insurance Group by 5.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 18,651 shares of the insurance provider’s stock valued at $1,026,000 after acquiring an additional 1,029 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its position in Selective Insurance Group by 7.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 36,037 shares of the insurance provider’s stock valued at $1,982,000 after acquiring an additional 2,621 shares during the last quarter. 78.45% of the stock is currently owned by institutional investors.
SIGI opened at $64.25 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $3.78 billion, a PE ratio of 20.66, a PEG ratio of 1.17 and a beta of 1.08. Selective Insurance Group has a 12-month low of $53.55 and a 12-month high of $67.17.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, October 25th. The insurance provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $666.70 million during the quarter, compared to analysts’ expectations of $665.10 million. Selective Insurance Group had a return on equity of 11.62% and a net margin of 6.34%. On average, equities analysts expect that Selective Insurance Group will post 3.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. Selective Insurance Group’s dividend payout ratio (DPR) is 25.72%.
In other Selective Insurance Group news, Director Paul D. Bauer sold 2,500 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $64.40, for a total value of $161,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.
A number of equities analysts have recently issued reports on the company. BidaskClub raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. Credit Suisse Group increased their price target on Selective Insurance Group from $54.00 to $61.00 and gave the stock a “sell” rating in a research report on Wednesday, October 31st. ValuEngine downgraded Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Finally, JMP Securities assumed coverage on Selective Insurance Group in a research report on Friday, November 16th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.80.
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About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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