Van ECK Associates Corp Has $143,000 Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Van ECK Associates Corp increased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 9.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,755 shares of the insurance provider’s stock after acquiring an additional 158 shares during the period. Van ECK Associates Corp’s holdings in Selective Insurance Group were worth $143,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Raymond James & Associates grew its stake in Selective Insurance Group by 11.4% in the first quarter. Raymond James & Associates now owns 3,725 shares of the insurance provider’s stock valued at $333,000 after acquiring an additional 381 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Selective Insurance Group by 116.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,904 shares of the insurance provider’s stock valued at $528,000 after acquiring an additional 3,173 shares during the period. Private Advisor Group LLC acquired a new stake in Selective Insurance Group in the first quarter valued at approximately $201,000. Bank of Montreal Can grew its stake in Selective Insurance Group by 8.6% in the first quarter. Bank of Montreal Can now owns 7,495 shares of the insurance provider’s stock valued at $684,000 after acquiring an additional 591 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Selective Insurance Group by 10.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,063 shares of the insurance provider’s stock valued at $1,972,000 after acquiring an additional 2,129 shares during the period. Institutional investors and hedge funds own 83.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SIGI shares. Janney Montgomery Scott started coverage on Selective Insurance Group in a research note on Friday, November 11th. They issued a “neutral” rating and a $96.00 price objective for the company. Piper Sandler raised their target price on Selective Insurance Group from $88.00 to $91.00 in a report on Tuesday, January 10th. BMO Capital Markets assumed coverage on Selective Insurance Group in a report on Thursday. They issued a “market perform” rating on the stock. Morgan Stanley raised their target price on Selective Insurance Group from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, November 22nd. Finally, StockNews.com assumed coverage on Selective Insurance Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Buying and Selling

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,813 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $95.11, for a total value of $267,544.43. Following the sale, the chief operating officer now directly owns 18,650 shares in the company, valued at $1,773,801.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Selective Insurance Group news, COO Brenda M. Hall sold 2,813 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $95.11, for a total value of $267,544.43. Following the sale, the chief operating officer now directly owns 18,650 shares in the company, valued at $1,773,801.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Burville sold 2,652 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares in the company, valued at $7,990,152.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,734 shares of company stock worth $825,796. 2.00% of the stock is owned by company insiders.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $89.75 on Friday. The business’s fifty day simple moving average is $91.58 and its 200 day simple moving average is $86.84. The firm has a market capitalization of $5.41 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 2.39 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. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23.

Selective Insurance Group (NASDAQ:SIGI – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported $0.99 EPS 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 the consensus estimate of $908.21 million. Selective Insurance Group had a return on equity of 12.79% and a net margin of 6.76%. As a group, analysts anticipate that Selective Insurance Group, Inc. will post 5.02 EPS for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were issued a dividend of $0.30 per share. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Monday, November 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 32.00%.

Selective Insurance Group Company Profile

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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.