Russell Investments Group Ltd. Raises Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Russell Investments Group Ltd. lifted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,996 shares of the insurance provider's stock after acquiring an additional 11,906 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Selective Insurance Group worth $9,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC raised its stake in shares of Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock valued at $10,711,000 after buying an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 valued at $37,801,000 after acquiring an additional 7,563 shares in the last quarter. Franklin Resources Inc. boosted its position in Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock worth $603,000 after purchasing an additional 1,747 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Selective Insurance Group by 8.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider's stock worth $376,000 after purchasing an additional 307 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in shares of Selective Insurance Group by 51.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 4,211 shares of the insurance provider's stock valued at $412,000 after purchasing an additional 1,438 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have weighed in on SIGI shares. 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 restated a "market perform" rating and issued a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.17.

Selective Insurance Group Price Performance

SIGI stock traded up $0.72 during trading on Wednesday, hitting $88.96. The stock had a trading volume of 218,753 shares, compared to its average volume of 385,181. The company's 50-day moving average price is $85.98 and its two-hundred day moving average price is $91.49. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $104.67. The stock has a market capitalization of $5.41 billion, a P/E ratio of 27.63 and a beta of 0.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly 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%. As a group, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's dividend payout ratio (DPR) is 47.20%.

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.