US Bancorp DE Boosts Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

US Bancorp DE increased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,283 shares of the insurance provider's stock after buying an additional 3,133 shares during the quarter. US Bancorp DE's holdings in Selective Insurance Group were worth $2,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Selective Insurance Group by 28.6% in the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock valued at $510,239,000 after acquiring an additional 1,216,801 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Selective Insurance Group in the 3rd quarter worth about $37,726,000. Eagle Asset Management Inc. lifted its stake in Selective Insurance Group by 112.7% in the third quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider's stock worth $42,667,000 after purchasing an additional 226,387 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Selective Insurance Group in the fourth quarter worth about $203,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Selective Insurance Group by 15.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider's stock valued at $77,465,000 after buying an additional 110,381 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

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Selective Insurance Group Stock Down 0.8 %

Shares of NASDAQ SIGI traded down $0.71 during midday trading on Tuesday, reaching $83.68. 564,259 shares of the company's stock traded hands, compared to its average volume of 357,396. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 25.99 and a beta of 0.54. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. 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 stock's 50 day simple moving average is $87.60 and its 200-day simple moving average is $91.99.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) 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, analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal 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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's dividend payout ratio is currently 47.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SIGI shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $93.00 price objective (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley reduced their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the 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.