SG Americas Securities LLC Acquires 4,899 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

SG Americas Securities LLC grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 221.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,113 shares of the insurance provider's stock after buying an additional 4,899 shares during the quarter. 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 modified their holdings of the company. Quarry LP bought a new position in shares of Selective Insurance Group during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp purchased a new stake in shares of Selective Insurance Group in the first quarter valued at approximately $41,000. UMB Bank n.a. boosted its holdings in shares of Selective Insurance Group by 116.3% in the first quarter. UMB Bank n.a. now owns 928 shares of the insurance provider's stock valued at $85,000 after purchasing an additional 499 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of 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 valued at $199,000 after purchasing an additional 232 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $200,000. Institutional investors own 82.88% of the company's stock.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction on 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 represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Selective Insurance Group Stock Down 0.1%

Selective Insurance Group stock opened at $85.12 on Friday. The business has a fifty day moving average of $87.77 and a two-hundred day moving average of $88.73. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.30. The firm has a market cap of $5.17 billion, a P/E ratio of 23.19 and a beta of 0.49. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted 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 company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a return on equity of 8.06% and a net margin of 4.70%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. On average, analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.79%. Selective Insurance Group's dividend payout ratio is currently 41.42%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of research reports. 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 report 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 for the company in a report on Wednesday, April 30th. Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, BMO Capital Markets boosted their price target on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus price target of $94.00.

About Selective Insurance Group

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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