JPMorgan Chase & Co. Has $44.76 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

JPMorgan Chase & Co. raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 18.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 478,609 shares of the insurance provider's stock after acquiring an additional 73,456 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.79% of Selective Insurance Group worth $44,760,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Walleye Capital LLC acquired a new stake in Selective Insurance Group in the third quarter valued at $626,000. Captrust Financial Advisors grew its position in shares of Selective Insurance Group by 82.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,897 shares of the insurance provider's stock valued at $550,000 after buying an additional 2,661 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Selective Insurance Group by 8.3% in the third quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider's stock valued at $376,000 after buying an additional 307 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Selective Insurance Group by 249.8% in the third quarter. Point72 Asset Management L.P. now owns 82,351 shares of the insurance provider's stock valued at $7,683,000 after buying an additional 58,808 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Selective Insurance Group by 5.4% during the third quarter. Quantinno Capital Management LP now owns 10,729 shares of the insurance provider's stock worth $1,001,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 82.88% of the company's stock.

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Wall Street Analysts Forecast Growth

SIGI has been the topic of several analyst reports. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Morgan Stanley reduced their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods reissued 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 note on Friday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $95.17.

Selective Insurance Group Trading Up 0.7 %

Shares of NASDAQ:SIGI traded up $0.60 during mid-day trading on Friday, hitting $86.63. The company had a trading volume of 448,391 shares, compared to its average volume of 383,869. The company has a market capitalization of $5.26 billion, a PE ratio of 26.90 and a beta of 0.45. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $104.67. The firm has a fifty day moving average price of $85.88 and a 200 day moving average price of $91.53. 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 (NASDAQ:SIGI - Get Free Report) last posted its quarterly 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 net margin of 4.26% and a return on equity of 7.33%. As a group, research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company 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. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.75%. Selective Insurance Group's payout ratio is currently 47.20%.

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.