Boston Trust Walden Corp Has $96.18 Million Stock Holdings in Selective Insurance Group, Inc. $SIGI

Boston Trust Walden Corp lifted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.0% during the second quarter, HoldingsChannel.com reports. The fund owned 1,109,922 shares of the insurance provider’s stock after purchasing an additional 63,255 shares during the period. Boston Trust Walden Corp’s holdings in Selective Insurance Group were worth $96,175,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Selective Insurance Group by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,756,225 shares of the insurance provider’s stock valued at $618,465,000 after acquiring an additional 135,324 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Selective Insurance Group by 2.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,150,662 shares of the insurance provider’s stock valued at $99,705,000 after acquiring an additional 22,410 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Selective Insurance Group by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 891,871 shares of the insurance provider’s stock valued at $81,642,000 after acquiring an additional 7,641 shares during the period. Raymond James Financial Inc. raised its position in shares of Selective Insurance Group by 8.4% in the 1st quarter. Raymond James Financial Inc. now owns 805,704 shares of the insurance provider’s stock valued at $73,755,000 after acquiring an additional 62,503 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Selective Insurance Group by 9.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 618,072 shares of the insurance provider’s stock valued at $56,578,000 after acquiring an additional 53,530 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SIGI has been the topic of several recent analyst reports. BMO Capital Markets set a $88.00 price objective on Selective Insurance Group and gave the company an “outperform” rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a report on Monday, July 28th. Zacks Research upgraded Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Piper Sandler cut their price objective on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $87.50.

Insiders Place Their Bets

In other news, CEO John J. Marchioni bought 3,200 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average price of $77.89 per share, with a total value of $249,248.00. Following the transaction, the chief executive officer owned 139,775 shares in the company, valued at $10,887,074.75. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terrence W. Cavanaugh bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of $75.72 per share, for a total transaction of $151,440.00. Following the transaction, the director owned 25,295 shares in the company, valued at $1,915,337.40. The trade was a 8.59% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 10,602 shares of company stock worth $817,440 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Selective Insurance Group Stock Up 0.8%

Shares of Selective Insurance Group stock opened at $82.43 on Tuesday. The business’s 50 day simple moving average is $79.24 and its 200 day simple moving average is $84.11. Selective Insurance Group, Inc. has a 52-week low of $71.75 and a 52-week high of $103.56. The firm has a market cap of $5.02 billion, a PE ratio of 13.49 and a beta of 0.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.24). Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted ($1.10) EPS. On average, analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 24.88%.

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.