Tower Research Capital LLC TRC Has $661,000 Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Tower Research Capital LLC TRC raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 440.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,064 shares of the insurance provider's stock after acquiring an additional 5,758 shares during the period. Tower Research Capital LLC TRC's holdings in Selective Insurance Group were worth $661,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SIGI. Boston Trust Walden Corp grew its stake in Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock worth $98,694,000 after buying an additional 84,341 shares during the last quarter. Norges Bank acquired a new stake in shares of Selective Insurance Group in the 4th quarter worth about $93,409,000. Charles Schwab Investment Management Inc. lifted its position in Selective Insurance Group by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock valued at $82,693,000 after purchasing an additional 16,539 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Selective Insurance Group by 15.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider's stock valued at $77,465,000 after purchasing an additional 110,381 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Selective Insurance Group in the 4th quarter worth about $69,504,000. 82.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the transaction, the chief accounting officer now directly owns 15,946 shares of the company's stock, valued at $1,388,258.76. This trade represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI traded up $0.79 during trading hours on Friday, hitting $87.68. 335,269 shares of the company's stock traded hands, compared to its average volume of 382,072. The company's fifty day simple moving average is $87.69 and its two-hundred day simple moving average is $91.06. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 27.23 and a beta of 0.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. 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 posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $1.33 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.73%. Selective Insurance Group's dividend payout ratio (DPR) is 41.42%.

Analyst Ratings Changes

SIGI has been the subject of several analyst reports. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their target price 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. Morgan Stanley lowered their target price 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. Finally, BMO Capital Markets upped their price target on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday. 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.