3,604 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Acquired by Optimize Financial Inc

Optimize Financial Inc purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,604 shares of the insurance provider's stock, valued at approximately $337,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SIGI. Barclays PLC increased its holdings in shares of Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after buying an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Selective Insurance Group by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock worth $37,801,000 after buying an additional 7,563 shares during the last quarter. Franklin Resources Inc. boosted its position in Selective Insurance Group by 38.4% during the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock worth $603,000 after acquiring an additional 1,747 shares during the period. HighTower Advisors LLC increased its position in shares of Selective Insurance Group by 8.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider's stock valued at $376,000 after purchasing an additional 307 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of Selective Insurance Group by 51.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,211 shares of the insurance provider's stock valued at $412,000 after purchasing an additional 1,438 shares during the period. Institutional investors and hedge funds own 82.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SIGI shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley reduced their price target 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. Finally, JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have issued 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 a consensus price target of $95.17.

Selective Insurance Group Price Performance

SIGI traded up $0.76 during trading on Friday, reaching $89.66. 284,115 shares of the company traded hands, compared to its average volume of 385,017. The company has a market cap of $5.45 billion, a P/E ratio of 27.84 and a beta of 0.45. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $104.67. 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 has a fifty day simple moving average of $86.16 and a 200 day simple moving average of $91.44.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (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, equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. Selective Insurance Group's dividend payout ratio is currently 47.20%.

About Selective Insurance Group

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.