Voloridge Investment Management LLC Grows Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Voloridge Investment Management LLC increased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,243 shares of the insurance provider's stock after acquiring an additional 34,100 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.45% of Selective Insurance Group worth $25,460,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Barclays PLC increased its stake in Selective Insurance Group by 171.6% in the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock valued at $10,711,000 after buying an additional 72,530 shares during the period. Franklin Resources Inc. increased its stake in Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock valued at $603,000 after buying an additional 1,747 shares during the period. UMB Bank n.a. increased its stake in Selective Insurance Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after buying an additional 402 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Selective Insurance Group by 4.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,782 shares of the insurance provider's stock valued at $1,850,000 after buying an additional 800 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,388,258.76. The trade was a 7.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company's stock.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI traded down $0.28 on Friday, reaching $86.28. 215,253 shares of the company were exchanged, compared to its average volume of 387,335. The company has a current ratio of 0.34, a quick 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 firm has a market cap of $5.24 billion, a price-to-earnings ratio of 26.80 and a beta of 0.51. The company has a 50-day moving average of $88.59 and a 200-day moving average of $90.51.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly 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). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $1.33 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors 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 dividend yield of 1.76%. Selective Insurance Group's dividend payout ratio is presently 41.42%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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 reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley boosted their price objective 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. BMO Capital Markets boosted their price objective 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. Finally, Keefe, Bruyette & Woods dropped their price objective 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.