Toth Financial Advisory Corp Takes Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Toth Financial Advisory Corp purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 450 shares of the insurance provider’s stock, valued at approximately $41,000.

A number of other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in Selective Insurance Group by 116.3% during the first quarter. UMB Bank n.a. now owns 928 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 499 shares during the period. Congress Asset Management Co. bought a new position in Selective Insurance Group during the first quarter worth $8,034,000. Procyon Advisors LLC increased its position in Selective Insurance Group by 17.9% during the first quarter. Procyon Advisors LLC now owns 14,702 shares of the insurance provider’s stock worth $1,346,000 after acquiring an additional 2,227 shares during the period. Heritage Family Offices LLP increased its position in Selective Insurance Group by 10.8% during the first quarter. Heritage Family Offices LLP now owns 3,608 shares of the insurance provider’s stock worth $330,000 after acquiring an additional 353 shares during the period. Finally, GAMMA Investing LLC increased its position in Selective Insurance Group by 7,732.8% during the first quarter. GAMMA Investing LLC now owns 37,989 shares of the insurance provider’s stock worth $3,478,000 after acquiring an additional 37,504 shares during the period. Institutional investors own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their target price on shares of Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $94.00.

Selective Insurance Group Trading Down 1.4%

Shares of SIGI stock opened at $86.16 on Tuesday. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $103.56. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 26.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a fifty day moving average of $87.91 and a 200-day moving average of $89.61.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.76%. Selective Insurance Group’s dividend payout ratio is presently 41.42%.

Insider Activity

In related news, CAO Anthony D. Harnett sold 1,352 shares of the company’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the transaction, the chief accounting officer now owns 15,946 shares in the company, valued at $1,388,258.76. This represents a 7.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Selective Insurance Group 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.