Ceredex Value Advisors LLC Makes New $10.48 Million Investment in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Ceredex Value Advisors LLC bought a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,100 shares of the insurance provider's stock, valued at approximately $10,484,000. Ceredex Value Advisors LLC owned about 0.18% of Selective Insurance Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new position in Selective Insurance Group during the 4th quarter valued at about $25,000. UMB Bank n.a. increased its holdings 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 valued at $40,000 after acquiring an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock worth $42,000 after purchasing an additional 402 shares in the last quarter. GAMMA Investing LLC grew its position in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock worth $45,000 after purchasing an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new position in Selective Insurance Group during the 4th quarter valued at approximately $180,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded up $1.58 during midday trading on Tuesday, hitting $89.86. 54,911 shares of the company were exchanged, compared to its average volume of 383,891. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $104.67. The firm has a market capitalization of $5.46 billion, a PE ratio of 27.91 and a beta of 0.45. The business has a fifty day simple moving average of $86.39 and a two-hundred day simple moving average of $91.37. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34.

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

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were 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 was Friday, February 14th. Selective Insurance Group's dividend payout ratio is presently 47.20%.

Analysts Set New Price Targets

SIGI has been the topic of a number of research analyst reports. Morgan Stanley dropped 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 report on Monday, February 3rd. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $95.17.

Selective Insurance Group Company 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.