Pinebridge Investments L.P. Buys 11,422 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pinebridge Investments L.P. grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,177 shares of the insurance provider's stock after acquiring an additional 11,422 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Selective Insurance Group worth $3,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP increased its stake in Selective Insurance Group by 574.7% in the 4th quarter. Dark Forest Capital Management LP now owns 18,757 shares of the insurance provider's stock worth $1,754,000 after acquiring an additional 15,977 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Selective Insurance Group by 142.2% in the 4th quarter. Hsbc Holdings PLC now owns 9,902 shares of the insurance provider's stock worth $928,000 after purchasing an additional 5,814 shares during the period. Stifel Financial Corp boosted its holdings in shares of Selective Insurance Group by 1.2% in the 4th quarter. Stifel Financial Corp now owns 31,911 shares of the insurance provider's stock worth $2,984,000 after purchasing an additional 373 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Selective Insurance Group by 440.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,064 shares of the insurance provider's stock worth $661,000 after purchasing an additional 5,758 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Selective Insurance Group by 8.1% in the 4th quarter. MetLife Investment Management LLC now owns 69,928 shares of the insurance provider's stock worth $6,540,000 after purchasing an additional 5,236 shares during the period. Institutional investors own 82.88% of the company's stock.

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,388,258.76. This represents a 7.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SIGI shares. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, Morgan Stanley dropped their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group has an average rating of "Hold" and a consensus target price of $95.17.

Selective Insurance Group Trading Down 0.4 %

SIGI traded down $0.39 during trading hours on Monday, reaching $87.18. 339,529 shares of the company's stock traded hands, compared to its average volume of 384,906. The firm has a 50-day moving average price of $87.11 and a 200 day moving average price of $91.27. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $103.60. 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 market capitalization of $5.30 billion, a PE ratio of 27.07 and a beta of 0.45.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. Selective Insurance Group's revenue was up 11.1% compared to the same quarter last year. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is 41.42%.

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.