Raymond James & Associates bought a new stake in shares of Selective Insurance Group, Inc. (NASDAQ: SIGI – Get the Badge) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,048 shares of the insurance company, valued at $2,609,000. Raymond James & Associates owned approximately 0.05% of Selective Insurance Group as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in Selective Insurance Group by 4.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,944 shares of the insurance company’s stock worth $484,000 after purchasing an additional 240 shares during the last quarter. Mayflower Financial Advisors LLC purchased a new position in shares of Selective Insurance Group in the third quarter valued at $1,126,000. Louisiana State Employees Retirement System purchased a new position in shares of Selective Insurance Group during the third quarter valued at $1,302,000. Boston Trust Walden Corp boosted its holdings in shares of Selective Insurance Group by 3.1% in the third quarter. Boston Trust Walden Corp now owns 484,386 shares of the insurance company’s stock worth $39,429,000 after acquiring an additional 14,727 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Selective Insurance Group in the third quarter worth $668,000. 83.85% of the shares are held by institutional investors.
Sales Performance of Selected Insurance Groups
NASDAQ SIG opened at $90.16 on Friday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.39 and a beta of 0.62. Selective Insurance Group, Inc. The twelve month low is $66.81 and the twelve month high is $98.80. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $91.55 and a 200 day moving average of $86.86.
Optional Insurance Section (NASDAQ: SIGI – Get the Badge) last announced its earnings results on Wednesday, November 2nd. The insurance company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.17). The business had revenue of $920.70 million for the quarter, compared to analyst estimates of $908.21 million. Selective Insurance Group had a return of 12.79% and a margin of 6.76%. Sell-side analysts expect Selective Insurance Group, Inc. will post 5.02 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were paid a dividend of $0.30 per share. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.28. The annual dividend is $1.20 and yields 1.33%. The distribution date of this dividend is Monday, November 14th. Selective Insurance Group’s payout ratio is 32.00%.
Wall Street Analyst Weighs In
Several research studies have recently weighed in on SIGI shares. StockNews.com Start insurance at Selective Insurance Group by book search on Wednesday, October 12th. They set the “stop” target on the stock. Morgan Stanley upped their target price on Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. BMO Capital Markets assumed coverage on Selective Insurance Group in a research note on Thursday. They set a “buy” rating and a $90.00 price target on the stock. Piper Sandler upped their price target on Selective Insurance Group from $88.00 to $91.00 in a research report on Tuesday, January 10th. Finally, Janney Montgomery Scott initiated coverage on Selective Insurance Group in a report on Friday, November 11th. They issued a “neutral” rating and a $96.00 target price for the company.
Insiders Order their Bets
In other Selective Insurance Group news, Director J Brian Thebault sold 3,269 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at the average price was $93.28, for a total sale of $304,932.32. Following the purchase, the director now directly owns 51,500 shares in the company, valued at $4,803,920. The transaction was disclosed in a document filed with the SEC, which is available through this relationship. In other news, Director J Brian Thebault sold 3,269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock traded at an average price of $93.28, for a total value of $304,932.32. Following the purchase, the director now directly owns 51,500 shares in the company, valued at $4,803,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brenda M. Hall sold 2,813 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $95.11, for a total price of $267,544.43. Following the purchase, the chief executive officer now owns 18,650 shares of the company’s stock, valued at $1,773,801.50. Notification is available for this purchase here. In the last three months, insiders have sold 8,734 shares of company stock worth $825,796. Insiders own 2.00% of the company’s stock.
Selected Insurance Section Details
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Commercial Lines, Specialty Lines, E&S Lines, and Investments. The company offers property insurance products, including the financial risk of accidental loss of the insured’s real property, personal property, and/or income due to loss of property; and personal injury insurance products that cover the financial consequences of employee injuries while on the job, and bodily injury and/or property damage to a third party, as well as products flood insurance.
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