Sei Investments Co. Raises Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Sei Investments Co. boosted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 151.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,562 shares of the insurance provider’s stock after buying an additional 50,386 shares during the quarter. Sei Investments Co. owned approximately 0.14% of Selective Insurance Group worth $7,815,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SIGI. Raymond James Financial Inc. bought a new position in shares of Selective Insurance Group during the 4th quarter valued at approximately $69,504,000. Jacobs Levy Equity Management Inc. bought a new position in Selective Insurance Group during the third quarter valued at $37,726,000. Proficio Capital Partners LLC purchased a new stake in Selective Insurance Group in the fourth quarter worth $203,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Selective Insurance Group by 15.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider’s stock valued at $77,465,000 after buying an additional 110,381 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Selective Insurance Group during the 3rd quarter valued at $8,418,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SIGI shares. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Morgan Stanley reduced their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Trading Down 0.5 %

Shares of Selective Insurance Group stock opened at $91.79 on Monday. The company’s 50-day moving average price is $86.59 and its 200-day moving average price is $91.86. 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, Inc. has a 12-month low of $78.13 and a 12-month high of $108.92. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 28.51 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results 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 return on equity of 7.33% and a net margin of 4.26%. On average, equities analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio 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.