Two Sigma Investments LP Acquires 30,684 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Two Sigma Investments LP lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 97.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,084 shares of the insurance provider's stock after purchasing an additional 30,684 shares during the quarter. Two Sigma Investments LP owned 0.10% of Selective Insurance Group worth $5,806,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Systematic Financial Management LP grew its holdings in shares of Selective Insurance Group by 3.4% during the 4th quarter. Systematic Financial Management LP now owns 314,272 shares of the insurance provider's stock worth $29,391,000 after purchasing an additional 10,360 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Selective Insurance Group by 245.7% in the fourth quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider's stock valued at $26,622,000 after acquiring an additional 202,318 shares during the last quarter. ProShare Advisors LLC increased its stake in Selective Insurance Group by 41.2% in the fourth quarter. ProShare Advisors LLC now owns 19,977 shares of the insurance provider's stock valued at $1,868,000 after acquiring an additional 5,830 shares during the last quarter. Quantinno Capital Management LP increased its stake in Selective Insurance Group by 7.2% in the fourth quarter. Quantinno Capital Management LP now owns 11,499 shares of the insurance provider's stock valued at $1,075,000 after acquiring an additional 770 shares during the last quarter. Finally, Man Group plc increased its stake in Selective Insurance Group by 63.6% in the fourth quarter. Man Group plc now owns 85,532 shares of the insurance provider's stock valued at $7,999,000 after acquiring an additional 33,250 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of the firm's 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 transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Selective Insurance Group Trading Up 0.6%

Selective Insurance Group stock traded up $0.56 during trading hours on Friday, hitting $88.07. The stock had a trading volume of 620,241 shares, compared to its average volume of 388,071. 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 stock has a market cap of $5.35 billion, a price-to-earnings ratio of 27.35 and a beta of 0.51. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $103.56. The business's 50 day simple moving average is $88.36 and its 200-day simple moving average is $90.07.

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

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.73%. Selective Insurance Group's dividend payout ratio is presently 41.42%.

Wall Street Analyst Weigh In

SIGI has been the subject of several recent analyst reports. Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods reduced their price target on shares of 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. Morgan Stanley raised their price target on shares of 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. Finally, BMO Capital Markets raised their price target on shares of 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 analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently 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.