10,000 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. acquired a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the insurance provider's stock, valued at approximately $935,000.

Several other large investors also recently modified their holdings of SIGI. UMB Bank n.a. boosted its holdings in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 116 shares during the last quarter. Arizona State Retirement System grew its position in shares of Selective Insurance Group by 0.7% during the fourth quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock worth $1,649,000 after buying an additional 123 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Selective Insurance Group by 1.5% during the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider's stock worth $847,000 after buying an additional 137 shares in the last quarter. Caprock Group LLC increased its stake in shares of Selective Insurance Group by 3.8% in the fourth quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider's stock worth $369,000 after buying an additional 145 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock valued at $45,000 after acquiring an additional 190 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI traded up $0.79 during trading on Friday, reaching $87.68. The company had a trading volume of 335,269 shares, compared to its average volume of 383,124. The firm's fifty day moving average is $87.69 and its 200 day moving average is $91.10. 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 market capitalization of $5.33 billion, a PE ratio of 27.23 and a beta of 0.45. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company earned $1.33 earnings per share. The business's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's payout ratio is currently 41.42%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SIGI shares. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley cut their price objective 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. BMO Capital Markets upped 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. Finally, Keefe, Bruyette & Woods reduced their price objective on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research report on Wednesday. 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's stock. According to MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and an average price target of $93.50.

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of the company's stock in a transaction on Friday, April 25th. The stock was 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 directly owns 15,946 shares of the company's stock, valued at $1,388,258.76. This represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

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.