Vest Financial LLC Buys New Shares in Selective Insurance Group, Inc. $SIGI

Vest Financial LLC purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,257 shares of the insurance provider’s stock, valued at approximately $1,480,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors raised its holdings in shares of Selective Insurance Group by 9.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,762 shares of the insurance provider’s stock valued at $305,000 after buying an additional 310 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Selective Insurance Group by 2.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,962 shares of the insurance provider’s stock worth $535,000 after acquiring an additional 160 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Selective Insurance Group by 68.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,707 shares of the insurance provider’s stock worth $1,407,000 after acquiring an additional 6,810 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Selective Insurance Group in the 3rd quarter valued at $257,000. Finally, First National Advisers LLC grew its holdings in shares of Selective Insurance Group by 4.8% during the 3rd quarter. First National Advisers LLC now owns 6,586 shares of the insurance provider’s stock valued at $534,000 after purchasing an additional 300 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Down 2.5%

Shares of NASDAQ:SIGI opened at $80.07 on Friday. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $96.49. The company has a market cap of $4.84 billion, a PE ratio of 12.34 and a beta of 0.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The stock’s 50-day moving average is $81.56 and its 200 day moving average is $80.60.

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 return on equity of 12.96% and a net margin of 7.78%.The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business posted $1.40 EPS. The business’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Selective Insurance Group in a report on Monday, November 24th. They set an “outperform” rating and a $95.00 target price for the company. BMO Capital Markets cut Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and an average target price of $81.60.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.