Heritage Family Offices LLP Has $286,000 Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Heritage Family Offices LLP increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.4% in the third quarter, HoldingsChannel reports. The firm owned 3,062 shares of the insurance provider’s stock after acquiring an additional 288 shares during the period. Heritage Family Offices LLP’s holdings in Selective Insurance Group were worth $286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Selective Insurance Group in the 1st quarter worth approximately $27,000. Quest Partners LLC bought a new position in Selective Insurance Group in the 2nd quarter worth $28,000. GAMMA Investing LLC grew its position in Selective Insurance Group by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Selective Insurance Group in the 2nd quarter worth $44,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Selective Insurance Group in the 1st quarter worth $48,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 1.0 %

Selective Insurance Group stock opened at $97.20 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The company has a 50 day moving average of $90.37 and a 200-day moving average of $93.96. The stock has a market capitalization of $5.91 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.52 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($2.59). The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 3.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SIGI has been the topic of several recent research reports. Royal Bank of Canada decreased their target price on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research report on Monday, July 22nd. Piper Sandler cut their target price on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Keefe, Bruyette & Woods upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. BMO Capital Markets boosted their price objective on shares of Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Finally, Bank of America boosted their price objective on shares of Selective Insurance Group from $89.00 to $96.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.50.

Insider Transactions at Selective Insurance Group

In other news, Director Terrence W. Cavanaugh acquired 2,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $85.85 per share, for a total transaction of $171,700.00. Following the purchase, the director now directly owns 20,651 shares of the company’s stock, valued at approximately $1,772,888.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Terrence W. Cavanaugh bought 2,000 shares of Selective Insurance Group stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $85.85 per share, with a total value of $171,700.00. Following the acquisition, the director now owns 20,651 shares of the company’s stock, valued at approximately $1,772,888.35. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John J. Marchioni bought 2,400 shares of Selective Insurance Group stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average cost of $83.56 per share, with a total value of $200,544.00. Following the acquisition, the chief executive officer now directly owns 136,397 shares in the company, valued at $11,397,333.32. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

About Selective Insurance Group

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.