Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGIGet Rating) by 1.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 67,729 shares of the insurance provider’s stock after acquiring an additional 937 shares during the period. Envestnet Asset Management Inc.’s holdings in Selective Insurance Group were worth $5,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Selective Insurance Group during the second quarter worth about $38,000. Covestor Ltd raised its holdings in shares of Selective Insurance Group by 37.3% in the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock valued at $67,000 after purchasing an additional 203 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Selective Insurance Group during the second quarter worth $72,000. Van ECK Associates Corp increased its holdings in Selective Insurance Group by 15.9% in the first quarter. Van ECK Associates Corp now owns 1,527 shares of the insurance provider’s stock valued at $136,000 after buying an additional 210 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Selective Insurance Group in the first quarter valued at $201,000. Hedge funds and other institutional investors own 83.50% of the company’s stock.

Insiders Place Their Bets

In related 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 was sold at an average price of $93.28, for a total transaction of $304,932.32. Following the transaction, the director now owns 51,500 shares in the company, valued at approximately $4,803,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 6,600 shares of Selective Insurance Group stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $83.23, for a total value of $549,318.00. Following the transaction, the director now directly owns 19,885 shares in the company, valued at $1,655,028.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Brian Thebault sold 3,269 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $93.28, for a total transaction of $304,932.32. Following the sale, the director now owns 51,500 shares of the company’s stock, valued at approximately $4,803,920. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Selective Insurance Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Selective Insurance Group Trading Up 2.2 %

Shares of Selective Insurance Group stock opened at $93.60 on Friday. 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 company has a fifty day simple moving average of $86.77 and a 200-day simple moving average of $82.71. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.70 and a beta of 0.62. Selective Insurance Group, Inc. has a 12-month low of $66.81 and a 12-month high of $98.80.

Selective Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.30 per share. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 29.87%.

About Selective Insurance Group

(Get Rating)

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and 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, as well as flood insurance products.

Further Reading

Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group, Inc. (NASDAQ:SIGIGet Rating).

Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.