Resona Asset Management Co. Ltd. Buys New Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Resona Asset Management Co. Ltd. purchased a new stake 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 4,941 shares of the insurance provider's stock, valued at approximately $462,000.

Several other large investors have also recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in Selective Insurance Group by 8.3% in the 3rd quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider's stock worth $376,000 after buying an additional 307 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Selective Insurance Group by 5.4% during the third quarter. Quantinno Capital Management LP now owns 10,729 shares of the insurance provider's stock worth $1,001,000 after acquiring an additional 554 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Selective Insurance Group by 8.4% during the third quarter. Public Employees Retirement System of Ohio now owns 82,368 shares of the insurance provider's stock valued at $7,685,000 after purchasing an additional 6,353 shares during the last quarter. Barclays PLC grew its stake in Selective Insurance Group by 171.6% in the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock valued at $10,711,000 after purchasing an additional 72,530 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Selective Insurance Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider's stock worth $148,048,000 after purchasing an additional 26,880 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SIGI shares. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley dropped their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $95.17.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI traded up $0.58 during midday trading on Thursday, hitting $89.48. The company's stock had a trading volume of 63,636 shares, compared to its average volume of 384,355. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $104.67. 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 stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 27.78 and a beta of 0.45. The stock's 50 day simple moving average is $86.06 and its 200 day simple moving average is $91.47.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing analysts' consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. Selective Insurance Group's payout ratio is 47.20%.

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.