Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Holdings Increased by Holocene Advisors LP

Holocene Advisors LP raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 61.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,549 shares of the insurance provider’s stock after acquiring an additional 19,542 shares during the period. Holocene Advisors LP owned 0.08% of Selective Insurance Group worth $4,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. boosted its stake in Selective Insurance Group by 715.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,798 shares of the insurance provider’s stock valued at $354,000 after acquiring an additional 3,332 shares during the period. Verition Fund Management LLC acquired a new position in Selective Insurance Group in the third quarter valued at approximately $8,418,000. Captrust Financial Advisors boosted its stake in Selective Insurance Group by 82.2% in the third quarter. Captrust Financial Advisors now owns 5,897 shares of the insurance provider’s stock valued at $550,000 after acquiring an additional 2,661 shares during the period. Walleye Capital LLC acquired a new position in Selective Insurance Group in the third quarter valued at approximately $626,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Selective Insurance Group by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,292 shares of the insurance provider’s stock valued at $1,427,000 after acquiring an additional 1,841 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the transaction, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Selective Insurance Group Stock Performance

SIGI opened at $99.89 on Thursday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.92 and a beta of 0.60. 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, Inc. has a 1-year low of $81.00 and a 1-year high of $109.58. The business has a 50 day moving average price of $95.85 and a two-hundred day moving average price of $92.99.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.51 earnings per share. Research analysts predict that Selective Insurance Group, Inc. will post 3.59 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.52%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 15th. Selective Insurance Group’s dividend payout ratio is 40.97%.

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.