ExodusPoint Capital Management LP Buys 6,317 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

ExodusPoint Capital Management LP raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 180.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,816 shares of the insurance provider's stock after purchasing an additional 6,317 shares during the quarter. ExodusPoint Capital Management LP's holdings in Selective Insurance Group were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SIGI. State Street Corp raised its position in Selective Insurance Group by 3.1% in the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider's stock valued at $224,097,000 after buying an additional 71,296 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Selective Insurance Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider's stock valued at $148,048,000 after purchasing an additional 26,880 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in Selective Insurance Group by 8.7% during the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock worth $98,694,000 after purchasing an additional 84,341 shares during the last quarter. Norges Bank bought a new stake in Selective Insurance Group in the 4th quarter worth about $93,409,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Selective Insurance Group by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after buying an additional 16,539 shares in the last quarter. Institutional investors own 82.88% of the company's stock.

Analyst Ratings Changes

SIGI has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Morgan Stanley decreased their target price on 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, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Selective Insurance Group has a consensus rating of "Hold" and an average price target of $95.17.

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded up $1.19 during midday trading on Wednesday, reaching $89.43. The stock had a trading volume of 44,554 shares, compared to its average volume of 383,956. The firm has a market capitalization of $5.43 billion, a PE ratio of 27.74 and a beta of 0.45. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $104.67. 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's 50-day moving average price is $85.98 and its 200 day moving average price is $91.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. As a group, research 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 company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. Selective Insurance Group's dividend payout ratio (DPR) is currently 47.20%.

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.