Raymond James Financial Inc. Acquires Shares of 743,201 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Raymond James Financial Inc. bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 743,201 shares of the insurance provider's stock, valued at approximately $69,504,000. Raymond James Financial Inc. owned approximately 1.22% of Selective Insurance Group as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Selective Insurance Group during the 4th quarter valued at $25,000. UMB Bank n.a. raised its stake in Selective Insurance Group by 37.1% in the fourth 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 last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock worth $42,000 after acquiring an additional 402 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock worth $45,000 after acquiring an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth about $180,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SIGI has been the subject of a number of recent analyst reports. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Finally, Morgan Stanley cut their target price on 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $98.71.

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Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI traded up $1.42 during midday trading on Thursday, reaching $85.45. The company's stock had a trading volume of 378,679 shares, compared to its average volume of 358,925. The stock has a fifty day moving average of $87.21 and a 200 day moving average of $91.89. The firm has a market capitalization of $5.20 billion, a PE ratio of 26.54 and a beta of 0.54. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $109.58. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

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 net margin of 4.26% and a return on equity of 7.33%. On average, equities analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.38 dividend. 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 1.78%. Selective Insurance Group's dividend payout ratio (DPR) 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.