Edgestream Partners L.P. Purchases New Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Edgestream Partners L.P. acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 20,630 shares of the insurance provider's stock, valued at approximately $1,888,000.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at $93,409,000. Vaughan Nelson Investment Management L.P. lifted its position in Selective Insurance Group by 36.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider's stock valued at $103,280,000 after purchasing an additional 299,925 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Selective Insurance Group by 245.7% during the 4th quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider's stock valued at $26,622,000 after acquiring an additional 202,318 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Selective Insurance Group by 39.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider's stock worth $52,796,000 after purchasing an additional 160,193 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in Selective Insurance Group in the 4th quarter worth approximately $10,484,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the sale, the chief accounting officer directly owned 15,946 shares of the company's stock, valued at approximately $1,388,258.76. The trade was a 7.82% decrease in their position. The transaction 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 Selective Insurance Group stock opened at $88.57 on Friday. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $103.56. 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 business has a fifty day simple moving average of $86.88 and a two-hundred day simple moving average of $87.59. The firm has a market capitalization of $5.38 billion, a P/E ratio of 24.13 and a beta of 0.48.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued 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). The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a return on equity of 8.06% and a net margin of 4.70%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. On average, equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.72%. Selective Insurance Group's payout ratio is 41.42%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SIGI shares. Keefe, Bruyette & Woods decreased their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley raised their target price on shares of 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 raised their price target on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of "Hold" and a consensus 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.

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