Bank of New York Mellon Corp Acquires 20,576 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Bank of New York Mellon Corp boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 582,140 shares of the insurance provider’s stock after buying an additional 20,576 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of Selective Insurance Group worth $54,442,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SIGI. Private Advisor Group LLC grew its position in Selective Insurance Group by 8.4% during the third quarter. Private Advisor Group LLC now owns 4,860 shares of the insurance provider’s stock valued at $453,000 after buying an additional 377 shares during the period. State of Alaska Department of Revenue grew its position in Selective Insurance Group by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 7,022 shares of the insurance provider’s stock valued at $655,000 after buying an additional 475 shares during the period. US Bancorp DE grew its position in Selective Insurance Group by 15.0% during the third quarter. US Bancorp DE now owns 22,150 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,896 shares during the period. New York State Common Retirement Fund grew its position in Selective Insurance Group by 10.2% during the third quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider’s stock valued at $16,770,000 after buying an additional 16,689 shares during the period. Finally, Van ECK Associates Corp grew its position in Selective Insurance Group by 40.0% during the third quarter. Van ECK Associates Corp now owns 34,759 shares of the insurance provider’s stock valued at $3,313,000 after buying an additional 9,931 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

SIGI stock opened at $85.75 on Wednesday. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. The company’s fifty day moving average price is $88.52 and its 200-day moving average price is $92.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $5.21 billion, a PE ratio of 26.63 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI) last released its 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 return on equity of 7.33% and a net margin of 4.26%. On average, equities 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. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

Wall Street Analysts Forecast Growth

SIGI has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley lowered their price target on shares of 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.