Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Heritage Family Offices LLP

Heritage Family Offices LLP raised its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,062 shares of the insurance provider’s stock after buying an additional 288 shares during the period. Heritage Family Offices LLP’s holdings in Selective Insurance Group were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Selective Insurance Group by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider’s stock valued at $705,000 after acquiring an additional 205 shares during the period. O Shaughnessy Asset Management LLC increased its position in Selective Insurance Group by 5.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider’s stock valued at $446,000 after acquiring an additional 216 shares during the period. Rise Advisors LLC acquired a new position in Selective Insurance Group in the 1st quarter valued at about $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Selective Insurance Group by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider’s stock valued at $1,262,000 after purchasing an additional 266 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Selective Insurance Group

In related news, Director Terrence W. Cavanaugh purchased 2,000 shares of Selective Insurance Group stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $85.85 per share, with a total value of $171,700.00. Following the completion of the transaction, the director now owns 20,651 shares of the company’s stock, valued at approximately $1,772,888.35. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Terrence W. Cavanaugh purchased 2,000 shares of Selective Insurance Group stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $85.85 per share, with a total value of $171,700.00. Following the completion of the transaction, the director now owns 20,651 shares of the company’s stock, valued at approximately $1,772,888.35. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John J. Marchioni acquired 2,400 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were acquired at an average price of $83.56 per share, for a total transaction of $200,544.00. Following the purchase, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SIGI has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Bank of America boosted their price target on Selective Insurance Group from $89.00 to $96.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $98.50.

Selective Insurance Group Stock Up 1.0 %

Shares of Selective Insurance Group stock opened at $97.20 on Thursday. The company has a fifty day moving average price of $90.37 and a 200 day moving average price of $93.96. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.52 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. During the same period in the previous year, the company earned $0.99 earnings per share. Equities research analysts forecast that Selective Insurance Group, Inc. will post 3.84 earnings per share for the current fiscal year.

Selective Insurance Group 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.