RMR Wealth Builders Decreases Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

RMR Wealth Builders cut its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,319 shares of the insurance provider’s stock after selling 247 shares during the period. RMR Wealth Builders’ holdings in Selective Insurance Group were worth $217,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Selective Insurance Group during the 3rd quarter valued at $27,000. Quest Partners LLC purchased a new stake in Selective Insurance Group during the 2nd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Selective Insurance Group during the 2nd quarter valued at $44,000. GAMMA Investing LLC increased its stake in shares of Selective Insurance Group by 64.4% in the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 190 shares in the last quarter. Finally, KBC Group NV increased its stake 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 in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SIGI has been the subject of several recent analyst reports. Bank of America upped their target price 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. Morgan Stanley initiated coverage on shares of Selective Insurance Group in a report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price objective for the company. Royal Bank of Canada increased their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and an average price target of $104.57.

Insider Activity

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the firm’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 completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI opened at $89.70 on Friday. The firm has a market cap of $5.45 billion, a PE ratio of 24.18 and a beta of 0.62. The firm’s 50 day simple moving average is $96.33 and its 200-day simple moving average is $93.00. 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 quick ratio of 0.35 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) 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 business 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 business posted $1.51 earnings per share. Selective Insurance Group’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts predict that Selective Insurance Group, Inc. will post 3.61 EPS for the current year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 40.97%.

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.