Man Group plc Raises Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Man Group plc lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 63.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,532 shares of the insurance provider's stock after purchasing an additional 33,250 shares during the quarter. Man Group plc owned about 0.14% of Selective Insurance Group worth $7,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SIGI. Norges Bank bought a new stake in Selective Insurance Group during the fourth quarter valued at $93,409,000. Raymond James Financial Inc. acquired a new position in Selective Insurance Group during the fourth quarter valued at $69,504,000. Proficio Capital Partners LLC acquired a new stake in Selective Insurance Group during the fourth quarter valued at $203,000. Jacobs Levy Equity Management Inc. raised its position in Selective Insurance Group by 39.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider's stock valued at $52,796,000 after acquiring an additional 160,193 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new position in shares of Selective Insurance Group during the 4th quarter valued at $10,484,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Shares of SIGI traded down $0.28 during mid-day trading on Friday, reaching $86.28. 215,253 shares of the stock traded hands, compared to its average volume of 387,335. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 26.80 and a beta of 0.51. The firm has a fifty day moving average price of $88.59 and a 200 day moving average price of $90.46. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $103.56.

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). The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Selective Insurance Group's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. As a group, equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is 41.42%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. BMO Capital Markets raised their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $94.00.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were 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 now owns 15,946 shares in the company, valued at approximately $1,388,258.76. This trade represents a 7.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.