Exchange Traded Concepts LLC Has $763,000 Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Exchange Traded Concepts LLC raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 30.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,175 shares of the insurance provider’s stock after buying an additional 1,901 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Selective Insurance Group were worth $763,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake 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 buying an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Selective Insurance Group by 2.8% during the second 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 during the period. O Shaughnessy Asset Management LLC raised its position in shares of Selective Insurance Group by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider’s stock worth $446,000 after purchasing an additional 216 shares during the period. Rise Advisors LLC acquired a new position in shares of Selective Insurance Group during the first quarter worth approximately $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Selective Insurance Group by 2.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider’s stock worth $1,262,000 after purchasing an additional 266 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 0.2 %

Shares of NASDAQ:SIGI opened at $98.68 on Friday. The company has a market capitalization of $6.00 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.58 and a beta of 0.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32. The business has a fifty day moving average price of $90.91 and a two-hundred day moving average price of $94.02. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.99 EPS. Analysts forecast that Selective Insurance Group, Inc. will post 3.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni acquired 2,400 shares of Selective Insurance Group stock in a transaction on Monday, July 22nd. The stock was purchased 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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO John J. Marchioni purchased 2,400 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was bought 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. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $85.85 per share, with a total value of $171,700.00. Following the purchase, the director now directly owns 20,651 shares in the company, valued at $1,772,888.35. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

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.