Emerald Advisers LLC Reduces Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Emerald Advisers LLC reduced its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 35.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,667 shares of the insurance provider's stock after selling 44,458 shares during the quarter. Emerald Advisers LLC owned approximately 0.13% of Selective Insurance Group worth $7,637,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Selective Insurance Group by 28.6% in the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock valued at $510,239,000 after acquiring an additional 1,216,801 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Selective Insurance Group during the fourth quarter worth approximately $69,504,000. Jacobs Levy Equity Management Inc. acquired a new position in Selective Insurance Group during the third quarter valued at approximately $37,726,000. Eagle Asset Management Inc. grew its stake in shares of Selective Insurance Group by 112.7% during the third quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider's stock worth $42,667,000 after buying an additional 226,387 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Selective Insurance Group in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 82.88% of the company's stock.

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded up $0.70 during mid-day trading on Thursday, reaching $90.88. 43,597 shares of the stock traded hands, compared to its average volume of 357,338. The stock has a market capitalization of $5.53 billion, a PE ratio of 28.22 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The business's 50-day moving average is $86.66 and its 200-day moving average is $91.79. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $109.58.

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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 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%. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared 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 1.67%. The ex-dividend date was Friday, February 14th. Selective Insurance Group's dividend payout ratio is presently 47.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SIGI. Keefe, Bruyette & Woods restated a "market perform" rating and set a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Morgan Stanley dropped 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 research report on Monday, February 3rd. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.