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

Pacer Advisors Inc. raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,061 shares of the insurance provider’s stock after purchasing an additional 137 shares during the quarter. Pacer Advisors Inc.’s holdings in Selective Insurance Group were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SIGI. FMR LLC lifted its position in 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 purchasing an additional 1,216,801 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Selective Insurance Group during the 3rd quarter worth approximately $37,726,000. Eagle Asset Management Inc. lifted its holdings in shares of Selective Insurance Group by 112.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider’s stock valued at $42,667,000 after buying an additional 226,387 shares during the period. Emerald Advisers LLC acquired a new stake in shares of Selective Insurance Group in the 3rd quarter valued at approximately $11,767,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Selective Insurance Group by 16.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 717,946 shares of the insurance provider’s stock valued at $66,984,000 after buying an additional 101,045 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SIGI. Bank of America boosted their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Royal Bank of Canada upped their target price on shares of 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 upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, Morgan Stanley lowered their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.00.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $82.77 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a fifty-two week low of $80.84 and a fifty-two week high of $109.58. The business has a fifty day moving average of $94.33 and a 200-day moving average of $92.65. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 25.71 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI) last released its 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%. As a group, analysts predict that Selective Insurance Group, Inc. will post 7.77 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is 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.