Sei Investments Co. Buys 50,386 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Sei Investments Co. lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 151.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 83,562 shares of the insurance provider’s stock after acquiring an additional 50,386 shares during the quarter. Sei Investments Co.’s holdings in Selective Insurance Group were worth $7,815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SIGI. R Squared Ltd bought a new stake in Selective Insurance Group during the fourth quarter worth about $25,000. UMB Bank n.a. raised its holdings 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 buying an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after buying an additional 402 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 in the last quarter. Finally, Roxbury Financial LLC bought a new position in Selective Insurance Group during the fourth quarter valued at approximately $180,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Down 0.5 %

Shares of SIGI opened at $91.79 on Monday. The stock has a market capitalization of $5.58 billion, a P/E ratio of 28.51 and a beta of 0.54. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $108.92. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $86.59 and a two-hundred day simple moving average of $91.86.

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

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 47.20%.

Analyst Ratings Changes

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