Blue Trust Inc. Has $170,000 Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Blue Trust Inc. reduced its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 31.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,808 shares of the insurance provider’s stock after selling 812 shares during the quarter. Blue Trust Inc.’s holdings in Selective Insurance Group were worth $170,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group during the third quarter valued at about $27,000. nVerses Capital LLC boosted its holdings in Selective Insurance Group by 20.0% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 500 shares during the last quarter. Heritage Family Offices LLP boosted its holdings in Selective Insurance Group by 10.4% during the third quarter. Heritage Family Offices LLP now owns 3,062 shares of the insurance provider’s stock worth $286,000 after purchasing an additional 288 shares during the last quarter. Creative Planning boosted its holdings in Selective Insurance Group by 12.1% during the third quarter. Creative Planning now owns 36,454 shares of the insurance provider’s stock worth $3,401,000 after purchasing an additional 3,943 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Selective Insurance Group by 30.3% during the third quarter. Exchange Traded Concepts LLC now owns 8,175 shares of the insurance provider’s stock worth $763,000 after purchasing an additional 1,901 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $91.37 on Friday. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 0.35. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week high of $109.58. The firm’s 50-day simple moving average is $91.85 and its two-hundred day simple moving average is $93.52.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results 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 net margin of 5.01% and a return on equity of 8.11%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Selective Insurance Group, Inc. will post 3.76 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.38 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s payout ratio is 26.86%.

Analyst Ratings Changes

Several research analysts recently weighed in on SIGI shares. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. Bank of America boosted their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. BMO Capital Markets boosted their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Piper Sandler cut their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price objective 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.00.

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 shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the sale, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at $1,476,759.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.