Smartleaf Asset Management LLC Buys 232 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Smartleaf Asset Management LLC grew its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 12.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,132 shares of the insurance provider’s stock after acquiring an additional 232 shares during the period. Smartleaf Asset Management LLC’s holdings in Selective Insurance Group were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue raised its holdings in Selective Insurance Group by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,022 shares of the insurance provider’s stock valued at $655,000 after acquiring an additional 475 shares during the period. US Bancorp DE increased its stake in shares of Selective Insurance Group by 15.0% during the third quarter. US Bancorp DE now owns 22,150 shares of the insurance provider’s stock worth $2,067,000 after purchasing an additional 2,896 shares during the period. New York State Common Retirement Fund lifted its holdings in Selective Insurance Group by 10.2% during the 3rd quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider’s stock worth $16,770,000 after purchasing an additional 16,689 shares during the last quarter. Van ECK Associates Corp boosted its stake in Selective Insurance Group by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 34,759 shares of the insurance provider’s stock valued at $3,313,000 after purchasing an additional 9,931 shares during the period. Finally, Financial Strategies Group Inc. grew its holdings in Selective Insurance Group by 27.3% in the 3rd quarter. Financial Strategies Group Inc. now owns 5,019 shares of the insurance provider’s stock valued at $481,000 after buying an additional 1,075 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SIGI shares. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley dropped their price objective on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Down 0.8 %

NASDAQ SIGI opened at $85.04 on Thursday. The business has a fifty day moving average price of $88.34 and a two-hundred day moving average price of $92.09. The stock has a market capitalization of $5.17 billion, a PE ratio of 26.41 and a beta of 0.54. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $109.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Equities analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

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.