Heritage Family Offices LLP Has $304,000 Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Heritage Family Offices LLP boosted its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,255 shares of the insurance provider’s stock after buying an additional 193 shares during the period. Heritage Family Offices LLP’s holdings in Selective Insurance Group were worth $304,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SIGI. Lindenwold Advisors INC grew its position in shares of Selective Insurance Group by 5.4% in the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock valued at $277,000 after buying an additional 153 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Selective Insurance Group by 3.1% in the third quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider’s stock valued at $476,000 after acquiring an additional 155 shares during the last quarter. GAMMA Investing LLC increased its position in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 190 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Selective Insurance Group by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider’s stock worth $1,415,000 after purchasing an additional 277 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Selective Insurance Group by 18.1% in the 3rd quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock worth $172,000 after purchasing an additional 282 shares during the period. 82.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SIGI shares. Royal Bank of Canada increased 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, October 23rd. Morgan Stanley started coverage on Selective Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price objective for the company. Bank of America upped their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price target on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $104.57.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,404 shares of the firm’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 value of $130,024.44. Following the transaction, the chief accounting officer now owns 15,946 shares in the company, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $93.47 on Thursday. The business has a 50-day simple moving average of $96.16 and a 200 day simple moving average of $92.99. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. 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 firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 25.19 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data 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 net margin of 5.01% and a return on equity of 8.11%. The firm 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 earned $1.51 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Selective Insurance Group, Inc. will post 3.61 earnings per share for the current fiscal year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were 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 was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.63%. Selective Insurance Group’s dividend payout ratio is presently 40.97%.

Selective Insurance Group Company 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.