Two Sigma Advisers LP Purchases 35,000 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Two Sigma Advisers LP increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 411.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,500 shares of the insurance provider's stock after purchasing an additional 35,000 shares during the period. Two Sigma Advisers LP owned about 0.07% of Selective Insurance Group worth $4,068,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. R Squared Ltd bought a new stake in Selective Insurance Group in the 4th quarter valued at $25,000. Quarry LP acquired a new stake in shares of Selective Insurance Group during the 4th quarter valued at about $38,000. UMB Bank n.a. boosted its position 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 valued at $40,000 after acquiring an additional 116 shares in the last quarter. Roxbury Financial LLC bought a new stake in Selective Insurance Group in the fourth quarter valued at about $180,000. Finally, Smartleaf Asset Management LLC raised its position in 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 worth $199,000 after purchasing an additional 232 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the sale, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company's stock.

Selective Insurance Group Price Performance

SIGI stock traded up $0.78 during midday trading on Friday, reaching $88.29. 79,075 shares of the company's stock traded hands, compared to its average volume of 387,969. The company has a 50-day simple moving average of $88.40 and a two-hundred day simple moving average of $90.22. 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 1-year low of $78.13 and a 1-year high of $103.56. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 27.45 and a beta of 0.51.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. On average, analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is presently 41.42%.

Analysts Set New Price Targets

SIGI has been the topic of a number of recent research reports. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. BMO Capital Markets raised their target price 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. 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 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. Finally, JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus target price 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.