Assenagon Asset Management S.A. Acquires New Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of Selective Insurance Group during the 4th quarter valued at approximately $200,000. Van ECK Associates Corp raised its holdings in Selective Insurance Group by 27.0% in the fourth quarter. Van ECK Associates Corp now owns 44,146 shares of the insurance provider's stock valued at $4,129,000 after acquiring an additional 9,387 shares in the last quarter. Rhumbline Advisers boosted its stake in Selective Insurance Group by 3.0% during the 4th quarter. Rhumbline Advisers now owns 224,920 shares of the insurance provider's stock valued at $21,034,000 after acquiring an additional 6,575 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in Selective Insurance Group by 13.3% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,496 shares of the insurance provider's stock valued at $233,000 after acquiring an additional 293 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Selective Insurance Group by 1,517.8% during the 4th quarter. Allworth Financial LP now owns 3,187 shares of the insurance provider's stock worth $300,000 after acquiring an additional 2,990 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group 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 sale, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company's stock.

Selective Insurance Group Stock Performance

SIGI traded up $0.15 on Friday, hitting $85.35. 313,120 shares of the company's stock were exchanged, compared to its average volume of 391,780. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $87.80 and a two-hundred day moving average of $88.90. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56. The firm has a market cap of $5.19 billion, a PE ratio of 23.24 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 (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a return on equity of 8.06% and a net margin of 4.70%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $1.33 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, May 15th. Selective Insurance Group's payout ratio is 41.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SIGI shares. 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 on the stock in a research note on Wednesday, April 30th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. BMO Capital Markets increased their target price on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley lifted their target price on Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One research 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 company currently has an average rating of "Hold" and an average target price of $94.00.

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.