Quantbot Technologies LP Purchases Shares of 58,035 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Quantbot Technologies LP purchased a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 58,035 shares of the insurance provider’s stock, valued at approximately $5,415,000. Quantbot Technologies LP owned 0.10% of Selective Insurance Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Lindenwold Advisors INC boosted its stake in shares of Selective Insurance Group by 5.4% during the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 153 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 worth $705,000 after acquiring an additional 205 shares during the last quarter. 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 valued at $1,262,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $99.80 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $6.07 billion, a PE ratio of 26.90 and a beta of 0.57. The firm has a fifty day moving average price of $94.54 and a two-hundred day moving average price of $92.78. Selective Insurance Group, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts expect that Selective Insurance Group, Inc. will post 3.59 EPS for the current year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.52%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, November 15th. Selective Insurance Group’s dividend payout ratio is 40.97%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SIGI shares. BMO Capital Markets upgraded 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 report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Bank of America raised their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Selective Insurance Group has an average rating of “Hold” and an average price target of $101.67.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction dated 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 approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% 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.