Peregrine Capital Management LLC Boosts Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Peregrine Capital Management LLC boosted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 42.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,950 shares of the insurance provider's stock after acquiring an additional 19,159 shares during the quarter. Peregrine Capital Management LLC owned 0.11% of Selective Insurance Group worth $5,981,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Barclays PLC boosted its holdings in Selective Insurance Group by 171.6% during the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after buying an additional 72,530 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Selective Insurance Group by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock worth $37,801,000 after buying an additional 7,563 shares in the last quarter. Quest Partners LLC boosted its holdings in Selective Insurance Group by 2,486.8% during the third quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider's stock worth $712,000 after buying an additional 7,336 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock valued at $603,000 after purchasing an additional 1,747 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Selective Insurance Group by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider's stock valued at $80,956,000 after purchasing an additional 21,374 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Price Performance

SIGI traded down $0.84 during trading on Friday, reaching $78.49. The company's stock had a trading volume of 447,052 shares, compared to its average volume of 437,057. 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 fifty day simple moving average of $90.14 and a two-hundred day simple moving average of $92.16. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $109.58. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 24.38 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) 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, analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group's dividend payout ratio (DPR) is presently 47.21%.

Wall Street Analyst Weigh In

SIGI has been the topic of a number of recent analyst reports. Morgan Stanley decreased 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. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. BMO Capital Markets raised shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. 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 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.com, the company has an average rating of "Hold" and a consensus target price of $98.71.

About Selective Insurance Group

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.