Bank of New York Mellon Corp Has $54.44 Million Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Bank of New York Mellon Corp lifted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,140 shares of the insurance provider's stock after buying an additional 20,576 shares during the quarter. Bank of New York Mellon Corp owned about 0.96% of Selective Insurance Group worth $54,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its stake in Selective Insurance Group by 28.6% during the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock valued at $510,239,000 after purchasing an additional 1,216,801 shares during the last quarter. State Street Corp raised its stake in Selective Insurance Group by 3.1% during the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider's stock valued at $224,097,000 after purchasing an additional 71,296 shares during the last quarter. Geode Capital Management LLC raised its stake in Selective Insurance Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider's stock valued at $148,048,000 after purchasing an additional 26,880 shares during the last quarter. Boston Trust Walden Corp raised its stake in Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock valued at $98,694,000 after purchasing an additional 84,341 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider's stock valued at $80,956,000 after purchasing an additional 21,374 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

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Selective Insurance Group Price Performance

Shares of SIGI traded down $0.80 during trading hours on Friday, hitting $85.10. The stock had a trading volume of 343,712 shares, compared to its average volume of 356,052. The company's fifty day moving average is $87.95 and its two-hundred day moving average is $92.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $109.58. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 26.43 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing the consensus estimate 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, analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's payout ratio is 47.20%.

Wall Street Analyst Weigh In

SIGI has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Morgan Stanley lowered their price target on shares of 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. Finally, JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average 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.