RMR Wealth Builders Cuts Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

RMR Wealth Builders lessened its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 9.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,319 shares of the insurance provider’s stock after selling 247 shares during the quarter. RMR Wealth Builders’ holdings in Selective Insurance Group were worth $217,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Selective Insurance Group during the 3rd quarter worth approximately $27,000. Quest Partners LLC bought a new position in Selective Insurance Group during the second quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Selective Insurance Group in the second quarter worth $44,000. GAMMA Investing LLC increased its position in Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after buying an additional 190 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Selective Insurance Group by 18.1% in the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock valued at $172,000 after buying an additional 282 shares during the period. Institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SIGI. Keefe, Bruyette & Woods boosted their price target on shares of Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley began coverage on shares of Selective Insurance Group in a report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 target price on the stock. BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Bank of America boosted their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $104.57.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $94.24 on Friday. The business has a 50 day moving average of $96.09 and a 200 day moving average of $93.00. The company has a market cap of $5.73 billion, a PE ratio of 25.40 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.29). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. Selective Insurance Group’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.51 earnings per share. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 3.61 earnings per share for the current year.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the sale, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at $1,476,759.06. The trade was a 8.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

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.