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

Key Points

• Boston Trust Walden Corp increased its stake in Selective Insurance Group by 6.0%, owning 1.83% of the company, which is valued at approximately $96.18 million.
• Selective Insurance Group reported quarterly earnings of $1.31 per share, falling short of the consensus estimate of $1.55, alongside revenues of $1.29 billion.
• The company recently declared a quarterly dividend of $0.38 per share, reflecting an annualized yield of 1.8% and a dividend payout ratio of 24.88%.

Boston Trust Walden Corp boosted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,109,922 shares of the insurance provider's stock after acquiring an additional 63,255 shares during the quarter. Boston Trust Walden Corp owned 1.83% of Selective Insurance Group worth $96,175,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC raised its stake in Selective Insurance Group by 3.0% during the first quarter. Frank Rimerman Advisors LLC now owns 4,728 shares of the insurance provider's stock worth $433,000 after acquiring an additional 136 shares in the last quarter. Martingale Asset Management L P raised its stake in Selective Insurance Group by 0.5% during the first quarter. Martingale Asset Management L P now owns 28,140 shares of the insurance provider's stock worth $2,576,000 after acquiring an additional 141 shares in the last quarter. UMB Bank n.a. raised its stake in Selective Insurance Group by 16.3% during the second quarter. UMB Bank n.a. now owns 1,079 shares of the insurance provider's stock worth $93,000 after acquiring an additional 151 shares in the last quarter. Hsbc Holdings PLC raised its stake in Selective Insurance Group by 1.7% during the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider's stock worth $922,000 after acquiring an additional 173 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Selective Insurance Group by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 7,117 shares of the insurance provider's stock worth $651,000 after acquiring an additional 185 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

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. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 13.49 and a beta of 0.39. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $103.56. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter in the prior year, the business earned ($1.10) EPS. As a group, research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Joseph Eppers purchased 1,402 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $76.82 per share, for a total transaction of $107,701.64. Following the completion of the acquisition, the executive vice president directly owned 12,492 shares in the company, valued at approximately $959,635.44. The trade was a 12.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average price of $75.72 per share, for a total transaction of $151,440.00. Following the acquisition, the director owned 25,295 shares of the company's stock, valued at $1,915,337.40. The trade was a 8.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 10,602 shares of company stock valued at $817,440 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

SIGI has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on Selective Insurance Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 7th. Zacks Research upgraded Selective Insurance Group from a "strong sell" rating to a "hold" rating in a research note on Friday, October 3rd. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an "outperform" rating in a report on Tuesday, August 5th. Keefe, Bruyette & Woods cut their price target on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating for the company in a report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $87.50.

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.

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