SG Americas Securities LLC Has $651,000 Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

SG Americas Securities LLC increased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 221.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,113 shares of the insurance provider's stock after purchasing an additional 4,899 shares during the period. SG Americas Securities LLC's holdings in Selective Insurance Group were worth $651,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Selective Insurance Group in the fourth quarter worth about $93,409,000. Raymond James Financial Inc. bought a new position in shares of Selective Insurance Group in the 4th quarter valued at approximately $69,504,000. Proficio Capital Partners LLC acquired a new stake in Selective Insurance Group in the 4th quarter worth approximately $203,000. Point72 Asset Management L.P. boosted its position in Selective Insurance Group by 245.7% during the fourth quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider's stock worth $26,622,000 after purchasing an additional 202,318 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings 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 purchasing an additional 160,193 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SIGI has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods dropped their price objective on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley raised 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, May 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of "Hold" and a consensus target price of $94.00.

Insider Activity at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction 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 owns 15,946 shares in the company, valued at $1,388,258.76. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Selective Insurance Group Stock Performance

Shares of SIGI traded down $2.30 during trading hours on Wednesday, reaching $84.32. 487,083 shares of the company traded hands, compared to its average volume of 395,336. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.35. The stock's fifty day moving average is $87.73 and its 200 day moving average is $88.56. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $103.56. The stock has a market cap of $5.12 billion, a P/E ratio of 22.98 and a beta of 0.49.

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 (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Equities research 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, May 15th. Selective Insurance Group's dividend payout ratio is presently 41.42%.

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.