Jacobs Levy Equity Management Inc. Has $52.80 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 564,542 shares of the insurance provider's stock after acquiring an additional 160,193 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.93% of Selective Insurance Group worth $52,796,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. R Squared Ltd bought a new position in Selective Insurance Group in the fourth quarter valued at $25,000. Quarry LP bought a new position in Selective Insurance Group in the fourth quarter valued at $38,000. UMB Bank n.a. grew its position in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 402 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock valued at $45,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 82.88% of the company's stock.

Insider Buying and Selling

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Selective Insurance Group Stock Performance

Shares of SIGI stock traded up $0.46 during midday trading on Friday, hitting $89.09. 277,697 shares of the company were exchanged, compared to its average volume of 386,795. The firm has a market capitalization of $5.41 billion, a P/E ratio of 27.67 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm's 50 day moving average price is $88.51 and its two-hundred day moving average price is $90.70. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced 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 company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. As a group, equities research 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. Investors of record on Thursday, May 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's payout ratio is 41.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. StockNews.com raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday. BMO Capital Markets lifted 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 report on Tuesday, April 29th. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.50.

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.