Assenagon Asset Management S.A. Purchases Shares of 27,956 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Assenagon Asset Management S.A. bought a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,956 shares of the insurance provider's stock, valued at approximately $2,559,000.

Several other large investors have also recently made changes to their positions in SIGI. Empowered Funds LLC bought a new stake in shares of Selective Insurance Group in the fourth quarter worth about $200,000. Van ECK Associates Corp grew its stake in shares of Selective Insurance Group by 27.0% during the fourth quarter. Van ECK Associates Corp now owns 44,146 shares of the insurance provider's stock valued at $4,129,000 after buying an additional 9,387 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Selective Insurance Group by 3.0% in the fourth quarter. Rhumbline Advisers now owns 224,920 shares of the insurance provider's stock valued at $21,034,000 after purchasing an additional 6,575 shares during the period. Legacy Capital Wealth Partners LLC boosted its holdings in shares of Selective Insurance Group by 13.3% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,496 shares of the insurance provider's stock valued at $233,000 after purchasing an additional 293 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Selective Insurance Group by 1,517.8% in the fourth quarter. Allworth Financial LP now owns 3,187 shares of the insurance provider's stock valued at $300,000 after purchasing an additional 2,990 shares during the period. 82.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total transaction of $117,705.12. Following the sale, the chief accounting officer now directly owns 15,946 shares of the company's stock, valued at approximately $1,388,258.76. This trade represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI opened at $85.24 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $103.56. The company has a 50 day simple moving average of $87.88 and a two-hundred day simple moving average of $89.06. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 26.47 and a beta of 0.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.10). The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Selective Insurance Group's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, analysts predict 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, June 2nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.78%. The ex-dividend date was Thursday, May 15th. Selective Insurance Group's dividend payout ratio is currently 41.42%.

Analyst Ratings Changes

SIGI has been the subject of a number of analyst reports. Morgan Stanley upped their target price on Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods cut their target price on 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. Finally, Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $94.00.

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.

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