ProShare Advisors LLC Boosts Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

ProShare Advisors LLC grew its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,977 shares of the insurance provider's stock after buying an additional 5,830 shares during the period. ProShare Advisors LLC's holdings in Selective Insurance Group were worth $1,868,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SIGI. R Squared Ltd bought a new position in shares of Selective Insurance Group during the fourth quarter worth $25,000. Quarry LP purchased a new stake in shares of Selective Insurance Group during the 4th quarter worth approximately $38,000. UMB Bank n.a. raised its holdings in shares of Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock worth $40,000 after acquiring an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Selective Insurance Group by 957.1% during the 4th 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 last quarter. Finally, Roxbury Financial LLC purchased a new position in shares of Selective Insurance Group in the fourth quarter valued at $180,000. Hedge funds and other institutional investors own 82.88% of the company's stock.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the transaction, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,388,258.76. This represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company's stock.

Selective Insurance Group Trading Down 0.3%

Selective Insurance Group stock traded down $0.28 during midday trading on Monday, reaching $86.28. The stock had a trading volume of 215,253 shares, compared to its average volume of 387,335. 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 market cap of $5.24 billion, a price-to-earnings ratio of 26.80 and a beta of 0.51. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $103.56. The company has a fifty day moving average of $88.59 and a 200 day moving average of $90.46.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share 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 business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.76%. Selective Insurance Group's payout ratio is 41.42%.

Analysts Set New Price Targets

SIGI has been the topic of a number of recent research reports. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 30th. Morgan Stanley lifted 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. Finally, BMO Capital Markets raised 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. 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 stock. Based on data from MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus price target of $94.00.

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.