Assenagon Asset Management S.A. Takes $8.36 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Assenagon Asset Management S.A. purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 84,045 shares of the insurance provider's stock, valued at approximately $8,361,000. Assenagon Asset Management S.A. owned approximately 0.14% of Selective Insurance Group at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in Selective Insurance Group by 95.5% during the fourth quarter. Pacer Advisors Inc. now owns 13,412 shares of the insurance provider's stock worth $1,334,000 after buying an additional 6,551 shares in the last quarter. Raymond James & Associates boosted its stake in Selective Insurance Group by 18.3% during the fourth quarter. Raymond James & Associates now owns 51,274 shares of the insurance provider's stock worth $5,101,000 after buying an additional 7,933 shares in the last quarter. SG Americas Securities LLC boosted its stake in Selective Insurance Group by 16.5% during the fourth quarter. SG Americas Securities LLC now owns 2,001 shares of the insurance provider's stock worth $199,000 after buying an additional 283 shares in the last quarter. Diversified Trust Co boosted its stake in Selective Insurance Group by 27.8% during the fourth quarter. Diversified Trust Co now owns 8,885 shares of the insurance provider's stock worth $884,000 after buying an additional 1,935 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Selective Insurance Group by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider's stock valued at $636,065,000 after purchasing an additional 41,639 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SIGI shares. Keefe, Bruyette & Woods reduced their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada reduced their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating on the stock in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $105.50.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the transaction, the chief operating officer now directly owns 10,511 shares of the company's stock, valued at $1,112,904.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock traded up $1.75 during trading on Friday, reaching $109.17. The company's stock had a trading volume of 363,431 shares, compared to its average volume of 350,152. The stock has a 50-day moving average price of $103.51 and a two-hundred day moving average price of $102.82. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. Selective Insurance Group, Inc. has a one year low of $91.99 and a one year high of $109.58. The stock has a market capitalization of $6.64 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.79 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. As a group, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.68 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.28%. Selective Insurance Group's dividend payout ratio is 24.01%.

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.