Aquatic Capital Management LLC Takes $1.61 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

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

Several other institutional investors have also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new stake in Selective Insurance Group during the 4th quarter valued at approximately $1,293,000. Two Sigma Securities LLC bought a new stake in Selective Insurance Group in the 4th quarter valued at $349,000. Adage Capital Partners GP L.L.C. purchased a new stake in Selective Insurance Group in the 4th quarter worth $935,000. Pinebridge Investments L.P. grew its position in shares of Selective Insurance Group by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 38,177 shares of the insurance provider's stock valued at $3,570,000 after purchasing an additional 11,422 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its position in shares of Selective Insurance Group by 574.7% during the fourth quarter. Dark Forest Capital Management LP now owns 18,757 shares of the insurance provider's stock valued at $1,754,000 after purchasing an additional 15,977 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SIGI. 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 for the company in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a research note 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 company an "outperform" rating in a research report on Tuesday, April 29th. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $93.50.

Selective Insurance Group Trading Up 0.9 %

SIGI stock traded up $0.79 during mid-day trading on Friday, reaching $87.68. The company had a trading volume of 335,269 shares, compared to its average volume of 382,072. The company has a market capitalization of $5.33 billion, a PE ratio of 27.23 and a beta of 0.51. The firm has a 50 day moving average of $87.69 and a 200 day moving average of $91.06. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $103.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

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 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 firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

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

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the transaction, 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 is accessible through this link. Insiders own 1.50% of the company's stock.

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.