Raymond James & Associates increased its holdings in Selective Insurance Group, Inc. (NASDAQ: SIGI ) increased according to the company’s most recent filing with the Securities and Exchange Commission. The investment fund purchased a total of 32,048 shares of the insurance company’s stock, valued at approximately $2,609,000. The most recent filing that Raymond James & Associates made with the SEC indicates that the firm reportedly holds a stake in Selective Insurance Group equal to approximately 0.05% of the company.
Various institutional investors, including hedge funds and other types of investors, were active buyers and sellers of the shares issued by the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Selective Insurance Group by 4.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,944 shares of the insurance provider’s stock after purchasing an additional 240 shares during the most recent quarter. The company’s stock is currently valued at $484,000 because he owns it. During the third quarter of the fiscal year, Mayflower Financial Advisors LLC made a new investment in Selective Insurance Group worth $1,126,000. Louisiana State Employees Retirement System shelled out $1,302,000 to acquire additional shares of Selective Insurance Group during the third quarter to boost its holdings in that company’s stock. The amount of Selective Insurance Group holdings in Boston Trust Walden Corporation at the end of the third quarter increased by 3.1% thanks to the company’s purchase during the quarter. After making additional purchases during the relevant period, Boston Trust Walden Corp. now 484,386 shares of the insurance provider’s stock, currently worth $39,429,000. These shares were acquired through the purchase of an additional 14,727 shares. Exchange Traded Concepts LLC increased its holdings of Selective Insurance Group during the third quarter by buying additional shares at a total cost of $668,000. This was the company’s last and most recent investment-related announcement. Institutions hold 83.85% of the time, the stock.
Trading on the NASDAQ SIGI opened at $90.16 per share on Friday. The company’s stock currently trades at a price that gives it a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.39 and a beta value of 0.62 . The market capitalization of the company is $5.43 billion. The lowest price that Selective Insurance Group, Inc. reached in the past year was $66.81, while the highest price it reached was $98.80. Currently, the debt-to-equity ratio stands at 0.23, the current ratio stands at 0.30, and the quick ratio stands at 0.30. The moving average of the company’s performance over the past 50 days is $91.55, and the moving average over the past 200 days is $86.86.
The most recent quarterly earnings report for Selective Insurance Group (NASDAQ: SIGI ) was released on November 2, 2013, and the company announced the results on that day. The insurance company’s quarterly earnings came in at $0.99 per share, which was $0.17 short of the average forecast of $1.16 provided by analysts. According to various estimates provided by analysts, the upcoming quarter’s revenue could fall anywhere between $908.21 million to $920.70 million. It can be seen that Selective Insurance Group performed very well, as evidenced by its high return on equity (12.79%) despite a low net margin of 6.76%. For the current fiscal year, sell-side analysts expect that Selective Insurance Group, Inc. $5.02 per share earnings will generate.
Additionally, the company recently announced and paid a quarterly dividend, which was paid on December 1st. This dividend has been distributed. On Tuesday, November 15th, dividend payments were sent out to shareholders of record. The amount of each dividend payment was $0.30 per share. This represents an increase compared to the previous distribution amount of $0.28 made by Selective Insurance Group each quarter. This amounts to a dividend payment of 1.20 dollars per year and a return of 1.33 percent for the investment. The date of November 14, a Monday, was the date on which shareholders were required to pay the dividend from their funds. The payout ratio for Selective Insurance Group is 32% of total premiums collected.
Several research analysts have recently commented on the SIGI share price.
After concluding that it will start reporting on Selective Insurance Group, StockNews.com released its first research note on the company on October 12th. They advised their clients to “hold” the stock going forward. In a research note published on November 22nd, Morgan Stanley boosted their target price on shares of Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating. BMO Capital Markets announced that it began coverage on Selective Insurance Group in a research note released on Thursday. They gave the stock a “market perform” rating and expect it to reach a price of $90.00 by the end of their analysis. Piper Sandler announced their intention to raise their price target on Selective Insurance Group from $80.00 to $90.00 in a research note released on January 10th and published on the 10th of the same month. On Friday, November 11th, Janney Montgomery Scott released a report that initiated the firm’s coverage of Selective Insurance Group. This publication was the first step in the firm’s coverage of Selective Insurance Group. They assigned a “neutral” rating to the business and decided that the price target should be set at $96,000.
Additionally, Selective Insurance Group Director J. Brian Thebault disposed of 3,269 shares of the company’s stock on November 8th. The price per share was set at $93.29, resulting in a total of $304,932.32 being received for the shares. Following the successful closing of the sale, the director now directly owns 51,500 shares of the company’s stock, which has a combined value of approximately $4,803,920. If you follow this link, you will be taken to the SEC filing in which the transaction is discussed in more detail. In other news on this topic, on November 8th, Corporate Director J. Brian Thebault completed a transaction in which he sold 3,269 shares of the company’s stock. The total amount of money obtained from the sale of the shares was $304,932.32, which works out to $93.28 for each share. Upon completion of the sale, the director will have a direct ownership interest in the amount of 51,500 shares, currently valued at $4,803,920. A document providing additional information about the transaction can be accessed by going to the Securities and Exchange Commission (SEC) website. On Monday, November 28th, COO Brenda M. Hall completed the sale of 2,813 shares of the company’s stock. At an average price of $95.11 per share, the shares were purchased for an amount that brought the total value of the transaction to $267,544.43. Following the completion of the transaction, the chief operating officer will own a total of 18,650 shares of the company’s stock, each valued at $1,773,801.50. Disclosures related to the sale can be found in this section of the website. Company insiders reduced their ownership stake by 2.0% during the most recent quarter by selling 8,734 shares for a total of $825,796 through the sale of company stock.