Vest Financial LLC Takes $1.48 Million Position in Selective Insurance Group, Inc. $SIGI

Vest Financial LLC purchased a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,257 shares of the insurance provider’s stock, valued at approximately $1,480,000.

A number of other institutional investors also recently bought and sold shares of SIGI. Merit Financial Group LLC lifted its holdings in shares of Selective Insurance Group by 4.0% during the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 129 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Selective Insurance Group by 2.4% during the third quarter. Verdence Capital Advisors LLC now owns 6,962 shares of the insurance provider’s stock valued at $535,000 after buying an additional 160 shares during the last quarter. Heritage Family Offices LLP raised its stake in Selective Insurance Group by 5.0% during the third quarter. Heritage Family Offices LLP now owns 3,789 shares of the insurance provider’s stock valued at $307,000 after buying an additional 181 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in Selective Insurance Group by 0.9% in the second quarter. Pullen Investment Management LLC now owns 22,748 shares of the insurance provider’s stock worth $1,971,000 after acquiring an additional 200 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Selective Insurance Group by 219.5% in the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 248 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SIGI. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price objective on the stock. in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a report on Tuesday, January 6th. Finally, Royal Bank Of Canada began coverage on Selective Insurance Group in a research note on Monday, November 24th. They set an “outperform” rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $81.60.

Selective Insurance Group Price Performance

Shares of SIGI opened at $80.07 on Friday. The firm has a fifty day simple moving average of $81.56 and a two-hundred day simple moving average of $80.60. The firm has a market cap of $4.84 billion, a PE ratio of 12.34 and a beta of 0.24. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $96.49.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.