Proficio Capital Partners LLC Purchases New Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Proficio Capital Partners LLC acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,172 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. boosted its position in Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 116 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Selective Insurance Group by 1.5% in the 4th quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock valued at $847,000 after buying an additional 137 shares during the period. Caprock Group LLC grew its stake in shares of Selective Insurance Group by 3.8% during the 4th quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 145 shares during the period. Glenmede Trust Co. NA raised its position in shares of Selective Insurance Group by 3.1% in 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. Finally, GAMMA Investing LLC grew its holdings in Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 190 shares during the period. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $92.22 on Friday. The firm has a fifty day moving average price of $86.62 and a 200 day moving average price of $91.79. The company has a market cap of $5.61 billion, a P/E ratio of 28.64 and a beta of 0.54. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $109.58. 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 posted its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Sell-side analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s payout ratio is currently 47.20%.

Analyst Ratings Changes

SIGI has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $93.00 price objective (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 report on Thursday, January 30th. Finally, Morgan Stanley decreased their target price on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average 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.