Cubist Systematic Strategies LLC Has $11.04 Million Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Cubist Systematic Strategies LLC increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 330.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,053 shares of the insurance provider's stock after acquiring an additional 90,631 shares during the period. Cubist Systematic Strategies LLC owned about 0.19% of Selective Insurance Group worth $11,040,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in shares of Selective Insurance Group by 4.1% in the 4th quarter. Captrust Financial Advisors now owns 6,141 shares of the insurance provider's stock valued at $574,000 after purchasing an additional 244 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Selective Insurance Group by 8.6% during the fourth quarter. Ameriprise Financial Inc. now owns 63,695 shares of the insurance provider's stock worth $5,957,000 after buying an additional 5,039 shares in the last quarter. Algert Global LLC raised its position in Selective Insurance Group by 160.4% in the 4th quarter. Algert Global LLC now owns 73,431 shares of the insurance provider's stock valued at $6,867,000 after buying an additional 45,235 shares during the last quarter. Freestone Grove Partners LP bought a new stake in Selective Insurance Group in the 4th quarter valued at approximately $4,607,000. Finally, Northern Trust Corp raised its holdings in shares of Selective Insurance Group by 9.3% in the fourth quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider's stock valued at $98,396,000 after purchasing an additional 89,692 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Stock Performance

Shares of SIGI stock traded down $0.77 on Monday, reaching $88.97. The stock had a trading volume of 82,067 shares, compared to its average volume of 382,763. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $103.56. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 27.61 and a beta of 0.51. The firm's 50-day moving average is $88.12 and its two-hundred day moving average is $90.79. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Selective Insurance Group's quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared 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 1.71%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is 41.42%.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction that occurred 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 owns 15,946 shares in the company, valued at $1,388,258.76. The trade was a 7.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SIGI shares. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods cut their price target 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. BMO Capital Markets increased their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley decreased their price objective on Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $93.50.

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.