Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Vestcor Inc

Vestcor Inc raised its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 70.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,696 shares of the insurance provider's stock after purchasing an additional 3,183 shares during the period. Vestcor Inc's holdings in Selective Insurance Group were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SIGI. UMB Bank n.a. boosted its holdings in shares of Selective Insurance Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after buying an additional 116 shares in the last quarter. Arizona State Retirement System grew its position in Selective Insurance Group by 0.7% during the 4th quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock worth $1,649,000 after purchasing an additional 123 shares during the last quarter. Pacer Advisors Inc. grew its position in Selective Insurance Group by 1.5% during the 4th quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider's stock worth $847,000 after purchasing an additional 137 shares during the last quarter. Caprock Group LLC grew its position in Selective Insurance Group by 3.8% during the 4th quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider's stock worth $369,000 after purchasing an additional 145 shares during the last quarter. Finally, Lindenwold Advisors INC grew its position in Selective Insurance Group by 5.4% during the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider's stock worth $277,000 after purchasing an additional 153 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 Price Performance

Shares of NASDAQ SIGI traded down $0.04 during midday trading on Thursday, hitting $89.10. The company had a trading volume of 285,425 shares, compared to its average volume of 356,136. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $109.58. The business has a 50-day simple moving average of $86.87 and a two-hundred day simple moving average of $91.82. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 27.67 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.26% and a return on equity of 7.33%. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. 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 payout ratio is currently 47.20%.

Analysts Set New Price Targets

Several brokerages have issued reports on SIGI. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley lowered their price objective on shares of 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. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Selective Insurance Group presently has an average rating of "Hold" and a consensus price target 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.