Barclays PLC Buys 72,530 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Barclays PLC lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 171.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,790 shares of the insurance provider’s stock after acquiring an additional 72,530 shares during the period. Barclays PLC owned approximately 0.19% of Selective Insurance Group worth $10,711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SIGI. Wealth Enhancement Advisory Services LLC increased its holdings in Selective Insurance Group by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider’s stock worth $705,000 after purchasing an additional 205 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Selective Insurance Group by 3,538.9% during the second quarter. Blue Trust Inc. now owns 2,620 shares of the insurance provider’s stock worth $246,000 after buying an additional 2,548 shares in the last quarter. Raymond James & Associates raised its position in Selective Insurance Group by 28.0% in the 2nd quarter. Raymond James & Associates now owns 107,231 shares of the insurance provider’s stock valued at $10,061,000 after buying an additional 23,487 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Selective Insurance Group in the 2nd quarter valued at approximately $188,000. Finally, Tributary Capital Management LLC boosted its position in Selective Insurance Group by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 280,271 shares of the insurance provider’s stock worth $26,298,000 after acquiring an additional 728 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group 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 completion of the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This trade represents a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

Selective Insurance Group Trading Up 0.8 %

Shares of NASDAQ:SIGI opened at $97.51 on Tuesday. Selective Insurance Group, Inc. has a 52-week low of $81.00 and a 52-week high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $5.93 billion, a P/E ratio of 26.28 and a beta of 0.60. The company has a 50-day simple moving average of $96.66 and a 200 day simple moving average of $93.03.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Monday, October 21st. The insurance provider reported $1.40 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 business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 3.61 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, November 15th. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s dividend payout ratio (DPR) is currently 40.97%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SIGI. BMO Capital Markets raised shares of 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. Morgan Stanley began coverage on shares of Selective Insurance Group in a research report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price target on the stock. 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 report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.14.

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.