UMB Bank n.a. Boosts Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

UMB Bank n.a. increased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 37.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 429 shares of the insurance provider’s stock after acquiring an additional 116 shares during the period. UMB Bank n.a.’s holdings in Selective Insurance Group were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SIGI. V Square Quantitative Management LLC purchased a new stake in shares of Selective Insurance Group during the 3rd quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Selective Insurance Group during the 2nd quarter valued at $44,000. GAMMA Investing LLC increased its holdings in Selective Insurance Group by 64.4% in the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 190 shares in the last quarter. KBC Group NV raised its position in Selective Insurance Group by 18.1% in the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock valued at $172,000 after purchasing an additional 282 shares during the period. Finally, Berry Wealth Group LP acquired a new position in shares of Selective Insurance Group during the third quarter worth about $205,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SIGI shares. Royal Bank of Canada boosted their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Bank of America increased their price target on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley initiated coverage on Selective Insurance Group in a report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $104.57.

Selective Insurance Group Trading Up 1.0 %

NASDAQ SIGI opened at $93.26 on Friday. The firm has a market capitalization of $5.67 billion, a PE ratio of 25.14 and a beta of 0.62. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. The company has a 50-day simple moving average of $95.34 and a 200-day simple moving average of $93.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.

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.