Fmr LLC Has $510.24 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Fmr LLC lifted its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 28.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,468,801 shares of the insurance provider’s stock after acquiring an additional 1,216,801 shares during the quarter. Fmr LLC owned approximately 0.09% of Selective Insurance Group worth $510,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC raised its stake in shares of Selective Insurance Group by 2,486.8% during 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. Dimensional Fund Advisors LP lifted 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 during the last quarter. Mutual of America Capital Management LLC grew its position in Selective Insurance Group by 9.0% in the third quarter. Mutual of America Capital Management LLC now owns 170,281 shares of the insurance provider’s stock worth $15,887,000 after acquiring an additional 14,004 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of 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 worth $16,770,000 after purchasing an additional 16,689 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Selective Insurance Group by 24.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 15,616 shares of the insurance provider’s stock valued at $1,457,000 after purchasing an additional 3,100 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SIGI. Royal Bank of Canada increased their target price on shares of 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. Bank of America raised their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $101.67.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI opened at $102.09 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 has a 50 day moving average price of $95.09 and a 200 day moving average price of $92.92. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 27.49 and a beta of 0.57. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced 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). 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 analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $1.51 EPS. The company’s revenue was up 15.1% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.49%. Selective Insurance Group’s payout ratio is presently 40.97%.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. The trade was a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

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.