Swiss National Bank Boosts Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Swiss National Bank boosted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 119,600 shares of the insurance provider’s stock after buying an additional 900 shares during the period. Swiss National Bank’s holdings in Selective Insurance Group were worth $11,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SIGI. KBC Group NV grew its position in Selective Insurance Group by 18.1% in the 3rd quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock valued at $172,000 after buying an additional 282 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Selective Insurance Group by 14.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 155,565 shares of the insurance provider’s stock worth $14,515,000 after purchasing an additional 19,826 shares in the last quarter. Quest Partners LLC boosted its position in shares of Selective Insurance Group by 2,486.8% during the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock worth $712,000 after purchasing an additional 7,336 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of Selective Insurance Group by 1.6% during the 3rd quarter. Pathstone Holdings LLC now owns 26,535 shares of the insurance provider’s stock worth $2,476,000 after purchasing an additional 412 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Selective Insurance Group during the 3rd quarter worth $947,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. 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. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $98.71.

Selective Insurance Group Trading Down 0.0 %

Shares of SIGI stock opened at $89.10 on Friday. The firm has a 50-day moving average price of $86.83 and a 200 day moving average price of $91.80. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $109.58. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 27.67 and a beta of 0.54. 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 announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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%. Research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s payout ratio is 47.20%.

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.