Stonebridge Financial Planning Group LLC Decreases Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Stonebridge Financial Planning Group LLC lessened its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,440 shares of the insurance provider’s stock after selling 150 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in Selective Insurance Group were worth $243,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State of Michigan Retirement System increased its position in Selective Insurance Group by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider’s stock worth $1,451,000 after buying an additional 100 shares during the period. Blue Trust Inc. increased its holdings in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 104 shares during the period. Fifth Third Bancorp raised its position in Selective Insurance Group by 12.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider’s stock valued at $121,000 after purchasing an additional 128 shares during the last quarter. Keybank National Association OH raised its position in Selective Insurance Group by 2.6% in the 3rd quarter. Keybank National Association OH now owns 5,328 shares of the insurance provider’s stock valued at $550,000 after purchasing an additional 136 shares during the last quarter. Finally, Narus Financial Partners LLC boosted its stake in Selective Insurance Group by 4.6% during the 3rd quarter. Narus Financial Partners LLC now owns 3,314 shares of the insurance provider’s stock worth $342,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 0.2 %

Selective Insurance Group stock opened at $101.65 on Wednesday. The stock’s 50 day moving average price is $103.59 and its 200 day moving average price is $102.75. Selective Insurance Group, Inc. has a 1-year low of $91.99 and a 1-year high of $109.58. The company has a market cap of $6.18 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.02. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. Piper Sandler reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada cut their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $105.17.

Insiders Place Their Bets

In other news, COO Brenda M. Hall sold 2,626 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the sale, the chief operating officer now owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Selective Insurance Group Company 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.