Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,665 shares of the insurance provider's stock after purchasing an additional 2,914 shares during the period. Mackenzie Financial Corp's holdings in Selective Insurance Group were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SIGI. R Squared Ltd purchased a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $25,000. Quarry LP acquired a new position in Selective Insurance Group during the fourth quarter worth $38,000. Roxbury Financial LLC acquired a new position in Selective Insurance Group during the fourth quarter worth $180,000. Smartleaf Asset Management LLC grew its position in shares of Selective Insurance Group by 12.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,132 shares of the insurance provider's stock valued at $199,000 after purchasing an additional 232 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 82.88% of the company's stock.

Selective Insurance Group Trading Down 2.1%

Shares of SIGI traded down $1.87 during midday trading on Wednesday, reaching $87.53. The company had a trading volume of 185,653 shares, compared to its average volume of 388,811. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $103.56. 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 has a 50 day simple moving average of $88.20 and a 200-day simple moving average of $89.92. The stock has a market cap of $5.32 billion, a PE ratio of 27.18 and a beta of 0.51.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same period in the prior year, the company posted $1.33 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. Selective Insurance Group's dividend payout ratio (DPR) is 41.42%.

Wall Street Analyst Weigh In

SIGI has been the subject of several research reports. Keefe, Bruyette & Woods cut their price objective on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley boosted their price target 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. BMO Capital Markets increased their price objective on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen upgraded 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 issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $94.00.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction 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 of the company's stock, valued at $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company's stock.

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.