Renaissance Technologies LLC Sells 10,993 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Renaissance Technologies LLC cut its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,401 shares of the insurance provider's stock after selling 10,993 shares during the period. Renaissance Technologies LLC owned about 0.23% of Selective Insurance Group worth $13,037,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Selective Insurance Group by 13.4% in the 4th quarter. Bank of Montreal Can now owns 9,492 shares of the insurance provider's stock worth $888,000 after acquiring an additional 1,118 shares during the last quarter. Cerity Partners LLC lifted its stake in Selective Insurance Group by 8.4% in the fourth quarter. Cerity Partners LLC now owns 7,275 shares of the insurance provider's stock worth $679,000 after purchasing an additional 566 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Selective Insurance Group by 13.8% during the fourth quarter. Russell Investments Group Ltd. now owns 97,996 shares of the insurance provider's stock valued at $9,165,000 after buying an additional 11,906 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Selective Insurance Group by 0.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 103,694 shares of the insurance provider's stock valued at $9,697,000 after buying an additional 783 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Selective Insurance Group in the fourth quarter worth about $453,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Up 0.9 %

NASDAQ:SIGI traded up $0.76 during trading hours on Friday, hitting $89.66. The company had a trading volume of 284,115 shares, compared to its average volume of 385,553. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a 50-day moving average price of $86.16 and a 200 day moving average price of $91.44. The company has a market capitalization of $5.45 billion, a PE ratio of 27.84 and a beta of 0.45. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $104.67.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced 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%. On average, equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's payout ratio is currently 47.20%.

Wall Street Analyst Weigh In

SIGI has been the subject of several analyst reports. Morgan Stanley dropped their target price on 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. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $95.17.

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.