Proficio Capital Partners LLC Takes $203,000 Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Proficio Capital Partners LLC acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 203,125 shares of the insurance provider’s stock, valued at approximately $203,000. Proficio Capital Partners LLC owned approximately 0.33% of Selective Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Selective Insurance Group by 28.6% in the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock valued at $510,239,000 after buying an additional 1,216,801 shares during the period. State Street Corp lifted its holdings in Selective Insurance Group by 3.1% in the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock valued at $224,097,000 after acquiring an additional 71,296 shares during the last quarter. Geode Capital Management LLC grew its position in Selective Insurance Group by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $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 fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock worth $98,694,000 after acquiring an additional 84,341 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Selective Insurance Group by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock worth $80,956,000 after acquiring an additional 21,374 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

SIGI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley decreased their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, JMP Securities reiterated 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and a consensus target price of $98.71.

Selective Insurance Group Trading Up 0.4 %

NASDAQ SIGI opened at $84.03 on Thursday. 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 firm has a market cap of $5.11 billion, a price-to-earnings ratio of 26.10 and a beta of 0.54. The firm has a 50 day simple moving average of $87.40 and a 200-day simple moving average of $91.94. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58.

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%. 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 declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.81%. Selective Insurance Group’s dividend payout ratio (DPR) is 47.20%.

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.