RMR Wealth Builders Sells 247 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

RMR Wealth Builders decreased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,319 shares of the insurance provider’s stock after selling 247 shares during the period. RMR Wealth Builders’ holdings in Selective Insurance Group were worth $217,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its position in Selective Insurance Group by 28.6% during the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock valued at $510,239,000 after purchasing an additional 1,216,801 shares in the last quarter. State Street Corp raised its position in Selective Insurance Group by 3.1% during the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock valued at $224,097,000 after purchasing an additional 71,296 shares in the last quarter. Geode Capital Management LLC raised its position in Selective Insurance Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock valued at $148,048,000 after purchasing an additional 26,880 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Selective Insurance Group by 4.6% during 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 purchasing an additional 62,699 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Selective Insurance Group by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after purchasing an additional 21,374 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Insider Buying and Selling

In related news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,476,759.06. The trade was a 8.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Morgan Stanley started coverage on Selective Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $104.57.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $89.70 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average price is $96.33 and its 200-day moving average price is $93.00. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week high of $109.58. The stock has a market cap of $5.45 billion, a P/E ratio of 24.18 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 3.61 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, November 15th. Selective Insurance Group’s payout ratio is currently 40.97%.

About Selective Insurance Group

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.