Quarry LP Buys New Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Quarry LP purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 405 shares of the insurance provider’s stock, valued at approximately $38,000.

A number of other large investors also recently bought and sold shares of SIGI. R Squared Ltd acquired a new stake in shares of Selective Insurance Group during the 4th quarter worth $25,000. UMB Bank n.a. grew its position in Selective Insurance Group by 37.1% during the fourth 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 during the period. MassMutual Private Wealth & Trust FSB increased its stake in Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 402 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Selective Insurance Group by 64.4% in the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 190 shares during the period. Finally, Roxbury Financial LLC acquired a new position in shares of Selective Insurance Group in the 4th quarter valued at about $180,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SIGI shares. BMO Capital Markets increased their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a research report on Wednesday. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley decreased their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.50.

Selective Insurance Group Trading Up 0.9 %

NASDAQ SIGI opened at $87.68 on Friday. The stock has a market cap of $5.33 billion, a P/E ratio of 27.23 and a beta of 0.51. The company’s fifty day simple moving average is $87.69 and its 200-day simple moving average is $91.06. 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 52 week low of $78.13 and a 52 week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. Equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.73%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 41.42%.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the completion of the sale, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at approximately $1,388,258.76. This trade represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.

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.