Rhumbline Advisers Has $21.03 Million Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Rhumbline Advisers raised its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,920 shares of the insurance provider's stock after purchasing an additional 6,575 shares during the period. Rhumbline Advisers owned 0.37% of Selective Insurance Group worth $21,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Selective Insurance Group in the 4th quarter valued at approximately $25,000. UMB Bank n.a. raised its position in Selective Insurance Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 402 shares during the last quarter. GAMMA Investing LLC raised its position 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, KBC Group NV raised its position in shares of Selective Insurance Group by 18.1% during the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider's stock worth $172,000 after acquiring an additional 282 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Down 1.1 %

Shares of SIGI traded down $0.84 on Friday, hitting $78.49. 447,052 shares of the stock traded hands, compared to its average volume of 437,057. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. The company has a market capitalization of $4.77 billion, a PE ratio of 24.38 and a beta of 0.61. The business has a 50 day simple moving average of $90.14 and a 200 day simple moving average of $92.16.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released 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 net margin of 4.26% and a return on equity of 7.33%. As a group, equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.94%. Selective Insurance Group's payout ratio is presently 47.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SIGI shares. Morgan Stanley cut their price target on 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. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. BMO Capital Markets raised Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, 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.