Cresset Asset Management LLC Has $2.02 Million Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Cresset Asset Management LLC lowered its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,555 shares of the insurance provider’s stock after selling 1,551 shares during the period. Cresset Asset Management LLC’s holdings in Selective Insurance Group were worth $2,016,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Selective Insurance Group in the fourth quarter worth about $38,000. UMB Bank n.a. lifted its position in shares of Selective Insurance Group by 37.1% during the fourth 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 grew its stake in shares of 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 valued at $42,000 after purchasing an additional 402 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 purchasing an additional 190 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,388,258.76. The trade was a 7.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SIGI shares. Morgan Stanley decreased their price objective on 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 reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. BMO Capital Markets increased their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.50.

Selective Insurance Group Trading Down 0.0 %

SIGI opened at $89.78 on Friday. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56. The firm has a market cap of $5.46 billion, a PE ratio of 27.88 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s fifty day moving average is $88.12 and its two-hundred day moving average is $90.84.

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

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group’s payout ratio is currently 41.42%.

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.