Xponance Inc. Raises Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Xponance Inc. grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,617 shares of the insurance provider’s stock after buying an additional 366 shares during the quarter. Xponance Inc.’s holdings in Selective Insurance Group were worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Selective Insurance Group during the fourth quarter valued at approximately $25,000. UMB Bank n.a. increased its position in shares of Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Selective Insurance Group by 957.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after buying an additional 402 shares during the period. GAMMA Investing LLC lifted 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, Roxbury Financial LLC purchased a new position in Selective Insurance Group during the fourth quarter worth $180,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 2.0 %

NASDAQ:SIGI opened at $90.49 on Tuesday. The firm has a 50-day simple moving average of $86.79 and a 200-day simple moving average of $91.80. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. The firm has a market cap of $5.50 billion, a P/E ratio of 28.10 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s payout ratio is currently 47.20%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, Morgan Stanley reduced their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.71.

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.