Pictet Asset Management Holding SA Acquires 1,181 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pictet Asset Management Holding SA grew its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,490 shares of the insurance provider’s stock after purchasing an additional 1,181 shares during the period. Pictet Asset Management Holding SA’s holdings in Selective Insurance Group were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SIGI. Norges Bank acquired a new stake in Selective Insurance Group in the 4th quarter valued at $93,409,000. Raymond James Financial Inc. acquired a new stake in shares of Selective Insurance Group in the 4th quarter valued at $69,504,000. Proficio Capital Partners LLC bought a new stake in shares of Selective Insurance Group in the 4th quarter worth about $203,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Selective Insurance Group by 15.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider’s stock worth $77,465,000 after purchasing an additional 110,381 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock valued at $98,694,000 after purchasing an additional 84,341 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

SIGI stock opened at $86.33 on Monday. The company has a 50 day moving average price of $86.33 and a 200 day moving average price of $91.85. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $105.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $5.25 billion, a PE ratio of 26.81 and a beta of 0.45.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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%. Analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.76%. 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 research analyst reports. Keefe, Bruyette & Woods reaffirmed 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. Morgan Stanley dropped their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a 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 assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.17.

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.