Pictet Asset Management Holding SA Has $888,000 Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pictet Asset Management Holding SA raised its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 14.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,490 shares of the insurance provider’s stock after purchasing an additional 1,181 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Selective Insurance Group were worth $888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. R Squared Ltd acquired a new position in Selective Insurance Group during the fourth quarter valued at approximately $25,000. UMB Bank n.a. grew its holdings in shares of Selective Insurance Group by 37.1% in 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 during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 valued at $42,000 after buying an additional 402 shares in the last quarter. GAMMA Investing LLC raised its stake in Selective Insurance Group by 64.4% during the 4th 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 period. Finally, Roxbury Financial LLC bought a new position in Selective Insurance Group during the fourth quarter worth about $180,000. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Stock Down 7.0 %

Shares of Selective Insurance Group stock opened at $86.33 on Monday. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $105.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The business’s 50 day simple moving average is $86.33 and its 200 day simple moving average is $91.85. The firm has a market cap of $5.25 billion, a PE ratio of 26.81 and a beta of 0.45.

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

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.76%. Selective Insurance Group’s dividend payout ratio is 47.20%.

Wall Street Analysts Forecast Growth

SIGI has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.17.

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.