Selective Insurance Group (NASDAQ:SIGI) Now Covered by Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Selective Insurance Group (NASDAQ:SIGIGet Rating) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $96.00 price objective on the insurance provider’s stock.

Separately, StockNews.com assumed coverage on shares of Selective Insurance Group in a research note on Wednesday, October 12th. They set a hold rating on the stock.

Selective Insurance Group Stock Performance

Selective Insurance Group stock opened at $91.33 on Friday. Selective Insurance Group has a 12-month low of $66.81 and a 12-month high of $98.80. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s fifty day moving average price is $87.01 and its 200 day moving average price is $82.75.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.31%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.28. Selective Insurance Group’s payout ratio is presently 29.87%.

Insider Transactions at Selective Insurance Group

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Martingale Asset Management L P boosted its holdings in shares of Selective Insurance Group by 0.5% in the 2nd quarter. Martingale Asset Management L P now owns 28,035 shares of the insurance provider’s stock valued at $2,438,000 after buying an additional 130 shares during the period. Dakota Wealth Management boosted its holdings in shares of Selective Insurance Group by 4.9% in the 3rd quarter. Dakota Wealth Management now owns 2,828 shares of the insurance provider’s stock valued at $230,000 after buying an additional 132 shares during the period. Mackenzie Financial Corp boosted its stake in Selective Insurance Group by 4.6% during the 1st quarter. Mackenzie Financial Corp now owns 3,359 shares of the insurance provider’s stock valued at $300,000 after purchasing an additional 147 shares during the period. Creative Planning boosted its stake in Selective Insurance Group by 0.6% during the 2nd quarter. Creative Planning now owns 25,118 shares of the insurance provider’s stock valued at $2,184,000 after purchasing an additional 153 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Selective Insurance Group by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,755 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 158 shares during the period. 83.50% of the stock is owned by institutional investors and hedge funds.

About Selective Insurance Group

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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.

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