Y Intercept Hong Kong Ltd Grows Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Y Intercept Hong Kong Ltd lifted its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 70.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,292 shares of the insurance provider’s stock after purchasing an additional 1,778 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Selective Insurance Group were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SIGI. 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 worth $510,239,000 after purchasing an additional 1,216,801 shares during the last quarter. State Street Corp raised its position in Selective Insurance Group by 3.1% in the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock worth $224,097,000 after buying an additional 71,296 shares during the last quarter. Geode Capital Management LLC lifted its stake in Selective Insurance Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock valued at $148,048,000 after acquiring an additional 26,880 shares during the period. Boston Trust Walden Corp grew its position in Selective Insurance Group by 8.7% in the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock worth $98,694,000 after purchasing an additional 84,341 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Selective Insurance Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after acquiring an additional 21,374 shares during the period. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 1.3 %

Shares of NASDAQ SIGI opened at $87.19 on Tuesday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 27.08 and a beta of 0.61. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $109.58. The firm’s 50-day moving average price is $88.64 and its 200-day moving average price is $92.13. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results 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%. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.74%. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.