Pathstone Holdings LLC Purchases 412 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pathstone Holdings LLC grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,535 shares of the insurance provider’s stock after buying an additional 412 shares during the period. Pathstone Holdings LLC’s holdings in Selective Insurance Group were worth $2,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake 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 valued at $132,949,000 after acquiring an additional 62,699 shares in the last quarter. Quest Partners LLC boosted its position in shares of Selective Insurance Group by 2,486.8% in the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock worth $712,000 after purchasing an additional 7,336 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Selective Insurance Group by 9.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 170,281 shares of the insurance provider’s stock worth $15,887,000 after buying an additional 14,004 shares during the last quarter. New York State Common Retirement Fund increased its position in Selective Insurance Group by 10.2% during the 3rd quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider’s stock valued at $16,770,000 after buying an additional 16,689 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Selective Insurance Group by 24.8% in the third quarter. Handelsbanken Fonder AB now owns 15,616 shares of the insurance provider’s stock valued at $1,457,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 0.8 %

Shares of Selective Insurance Group stock opened at $98.65 on Tuesday. The stock has a market cap of $6.00 billion, a PE ratio of 26.59 and a beta of 0.57. The firm has a fifty day moving average price of $94.41 and a 200 day moving average price of $92.78. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.29). The company had revenue of $1.24 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $1.51 EPS. Equities research analysts predict that Selective Insurance Group, Inc. will post 3.59 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.54%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 40.97%.

Insider Activity

In related news, CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the sale, the chief accounting officer now owns 15,946 shares in the company, valued at approximately $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Bank of America boosted their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average target price of $101.67.

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.