Edgestream Partners L.P. Takes Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Edgestream Partners L.P. purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,630 shares of the insurance provider's stock, valued at approximately $1,888,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SIGI. Olde Wealth Management LLC bought a new stake in shares of Selective Insurance Group in the 1st quarter valued at $28,000. Quarry LP bought a new position in shares of Selective Insurance Group in the 4th quarter worth $38,000. Toth Financial Advisory Corp purchased a new stake in shares of Selective Insurance Group in the 1st quarter worth about $41,000. UMB Bank n.a. grew its stake in shares of Selective Insurance Group by 116.3% in 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. Finally, CX Institutional bought a new stake in Selective Insurance Group in the 1st quarter valued at $136,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 1.0%

NASDAQ:SIGI traded down $0.94 during midday trading on Monday, hitting $88.59. 482,975 shares of the company were exchanged, compared to its average volume of 394,013. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $103.56. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $5.38 billion, a PE ratio of 24.14 and a beta of 0.48. The company has a fifty day simple moving average of $86.88 and a 200 day simple moving average of $87.48.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released 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). The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. As a group, equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the transaction, the chief accounting officer owned 15,946 shares of the company's stock, valued at $1,388,258.76. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SIGI shares. BMO Capital Markets lifted their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Morgan Stanley raised their price target 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 Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $94.00.

Selective Insurance Group Company 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.