Van ECK Associates Corp Grows Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Van ECK Associates Corp lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 27.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,146 shares of the insurance provider’s stock after purchasing an additional 9,387 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Selective Insurance Group worth $4,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SIGI. UMB Bank n.a. boosted its position in shares of Selective Insurance Group by 37.1% during the fourth 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 during the last quarter. Pacer Advisors Inc. lifted its position in Selective Insurance Group by 1.5% in the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock worth $847,000 after buying an additional 137 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Selective Insurance Group by 3.8% in the fourth quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock worth $369,000 after buying an additional 145 shares during the period. Lindenwold Advisors INC increased its stake in Selective Insurance Group by 5.4% in the third 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 period. Finally, Glenmede Trust Co. NA increased its position in shares of Selective Insurance Group by 3.1% during the third quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider’s stock worth $476,000 after acquiring an additional 155 shares during the period. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Down 3.1 %

Shares of SIGI opened at $79.96 on Thursday. The stock has a market capitalization of $4.86 billion, a PE ratio of 24.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. Selective Insurance Group, Inc. has a 1 year low of $79.16 and a 1 year high of $109.58. The company’s 50-day simple moving average is $90.48 and its 200-day simple moving average is $92.25.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (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%. Analysts forecast that Selective Insurance Group, Inc. will post 7.64 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.21%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SIGI shares. Morgan Stanley cut 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, February 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Royal Bank of Canada upped their price target 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 raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.71.

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.