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

Tower Research Capital LLC TRC raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 440.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,064 shares of the insurance provider's stock after acquiring an additional 5,758 shares during the quarter. Tower Research Capital LLC TRC's holdings in Selective Insurance Group were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Selective Insurance Group by 171.6% in the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after buying an additional 72,530 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in shares of Selective Insurance Group during the third quarter worth $345,000. Franklin Resources Inc. boosted its position in shares of Selective Insurance Group by 38.4% during the third quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock worth $603,000 after purchasing an additional 1,747 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Selective Insurance Group by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock worth $37,801,000 after purchasing an additional 7,563 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock worth $45,000 after purchasing an additional 190 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the company'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 transaction, the chief accounting officer now owns 15,946 shares in the company, valued at approximately $1,388,258.76. This represents a 7.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SIGI shares. BMO Capital Markets lifted 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 report on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Keefe, Bruyette & Woods cut 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 report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Selective Insurance Group presently has an average rating of "Hold" and a consensus price target of $93.50.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock traded down $0.34 during trading on Thursday, hitting $86.89. 325,529 shares of the stock were exchanged, compared to its average volume of 385,109. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 26.98 and a beta of 0.45. The company has a fifty day moving average price of $87.47 and a 200-day moving average price of $91.22. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $103.60. 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 (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.10). The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, equities analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.75%. Selective Insurance Group's dividend payout ratio is presently 41.42%.

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.