Sei Investments Co. Grows Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Sei Investments Co. boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 151.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,562 shares of the insurance provider's stock after purchasing an additional 50,386 shares during the period. Sei Investments Co. owned 0.14% of Selective Insurance Group worth $7,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth about $25,000. UMB Bank n.a. lifted 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 acquiring an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock worth $42,000 after purchasing an additional 402 shares during the period. GAMMA Investing LLC lifted its holdings in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock valued at $45,000 after purchasing an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC bought a new position in Selective Insurance Group during the fourth quarter worth $180,000. Institutional investors own 82.88% of the company's stock.

Selective Insurance Group Trading Up 0.7 %

Shares of SIGI stock traded up $0.61 on Thursday, hitting $92.83. 516,309 shares of the company's stock traded hands, compared to its average volume of 376,565. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 28.83 and a beta of 0.45. The company's fifty day simple moving average is $86.47 and its 200 day simple moving average is $91.89. 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 $106.01.

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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 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Equities 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. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.64%. Selective Insurance Group's dividend payout ratio (DPR) is currently 47.20%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on shares of 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. 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. Finally, JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $98.71.

Selective Insurance Group Company 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.