Aquatic Capital Management LLC Buys New Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Aquatic Capital Management LLC purchased a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,161 shares of the insurance provider's stock, valued at approximately $1,605,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Selective Insurance Group in the 4th quarter valued at about $93,409,000. Raymond James Financial Inc. acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $69,504,000. Proficio Capital Partners LLC bought a new position in Selective Insurance Group in the 4th quarter worth approximately $203,000. Ceredex Value Advisors LLC acquired a new position in Selective Insurance Group during the 4th quarter worth $10,484,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Selective Insurance Group by 15.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider's stock valued at $77,465,000 after buying an additional 110,381 shares during the last quarter. Institutional investors own 82.88% of the company's stock.

Analyst Ratings Changes

SIGI has been the topic of several research reports. BMO Capital Markets upped their price target on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods cut their target price on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley lowered 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. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One research 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $93.50.

Selective Insurance Group Trading Down 0.2 %

NASDAQ SIGI traded down $0.22 during trading on Monday, reaching $87.47. 72,589 shares of the stock traded hands, compared to its average volume of 380,863. The stock's 50-day moving average price is $87.69 and its 200 day moving average price is $91.00. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 27.23 and a beta of 0.51. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released 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 the consensus estimate of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Selective Insurance Group's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is currently 41.42%.

Insider Activity

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction that occurred 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 transaction, the chief accounting officer now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

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.