HighTower Advisors LLC Has $426,000 Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

HighTower Advisors LLC lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,560 shares of the insurance provider’s stock after buying an additional 576 shares during the period. HighTower Advisors LLC’s holdings in Selective Insurance Group were worth $426,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. R Squared Ltd acquired a new position in Selective Insurance Group during the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its stake in shares of Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after buying an additional 402 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 190 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new position in Selective Insurance Group during the fourth quarter worth $180,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Down 0.3 %

Shares of SIGI opened at $91.54 on Tuesday. The firm has a market cap of $5.56 billion, a P/E ratio of 28.43 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $108.92. The firm’s 50-day simple moving average is $86.56 and its 200 day simple moving average is $91.87.

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 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, analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SIGI shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Morgan Stanley cut 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, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Selective Insurance Group has an average rating of “Hold” and an average 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.