Exchange Traded Concepts LLC Increases Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Exchange Traded Concepts LLC boosted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,385 shares of the insurance provider’s stock after purchasing an additional 210 shares during the period. Exchange Traded Concepts LLC’s holdings in Selective Insurance Group were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SIGI. V Square Quantitative Management LLC purchased a new position in Selective Insurance Group during the 3rd quarter valued at about $27,000. UMB Bank n.a. boosted its holdings in Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Selective Insurance Group by 957.1% during 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Selective Insurance Group during the 2nd quarter valued at about $44,000. Finally, GAMMA Investing LLC boosted its holdings in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 190 shares during the period. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SIGI shares. BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Morgan Stanley started coverage on Selective Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price target on the stock. Royal Bank of Canada increased their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America increased their price target on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods increased their price target on Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.57.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $94.02 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. Selective Insurance Group, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. The firm has a market capitalization of $5.72 billion, a PE ratio of 25.34 and a beta of 0.62. The stock’s 50-day simple moving average is $95.21 and its 200-day simple moving average is $93.05.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 3.63 EPS for the current fiscal year.

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.