Selective Insurance Group, Inc. (NASDAQ:SIGI) Position Boosted by Systematic Financial Management LP

Systematic Financial Management LP raised its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 314,272 shares of the insurance provider's stock after acquiring an additional 10,360 shares during the period. Systematic Financial Management LP owned approximately 0.52% of Selective Insurance Group worth $29,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SIGI. Barclays PLC lifted its position 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 during the period. Franklin Resources Inc. boosted its stake in shares of Selective Insurance Group by 38.4% during the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock worth $603,000 after acquiring an additional 1,747 shares in the last quarter. UMB Bank n.a. boosted its position in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock worth $40,000 after purchasing an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 402 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Selective Insurance Group by 4.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 19,782 shares of the insurance provider's stock valued at $1,850,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Insider Activity

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

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock traded down $0.50 during trading hours on Thursday, reaching $86.73. The company's stock had a trading volume of 86,583 shares, compared to its average volume of 385,424. 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 company's 50 day simple moving average is $88.68 and its 200 day simple moving average is $90.65. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $103.56. The stock has a market cap of $5.27 billion, a P/E ratio of 26.93 and a beta of 0.51.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business posted $1.33 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on SIGI shares. Keefe, Bruyette & Woods dropped their price objective on 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. BMO Capital Markets lifted their price target 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 reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley lifted their price objective on Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Selective Insurance Group has an average rating of "Hold" and a consensus target price of $94.00.

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.