Nomura Holdings Inc. Takes Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Nomura Holdings Inc. purchased a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,051 shares of the insurance provider's stock, valued at approximately $753,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Selective Insurance Group during the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Selective Insurance Group during the fourth quarter valued at $38,000. UMB Bank n.a. lifted its holdings in shares of Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 402 shares during the period. Finally, Roxbury Financial LLC bought a new position in Selective Insurance Group in the fourth quarter valued at about $180,000. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Stock Up 0.6%

NASDAQ SIGI opened at $89.66 on Tuesday. The stock's 50-day moving average price is $88.62 and its 200-day moving average price is $90.68. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56. The company has a market capitalization of $5.45 billion, a P/E ratio of 27.84 and a beta of 0.51.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. 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 earned $1.33 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group's dividend payout ratio (DPR) is currently 41.42%.

Insider Transactions at Selective Insurance Group

In related 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley increased their target price on Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. BMO Capital Markets increased their target price on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, StockNews.com raised 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 MarketBeat.com, the company 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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