US Asset Management LLC Invests $213,000 in Selective Insurance Group, Inc. (NASDAQ:SIGI)

US Asset Management LLC purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,277 shares of the insurance provider’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Selective Insurance Group during the 4th quarter worth $25,000. Quarry LP purchased a new position in Selective Insurance Group during the fourth quarter worth about $38,000. UMB Bank n.a. raised its holdings 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 boosted its holdings 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 purchasing an additional 402 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new stake in Selective Insurance Group in the 4th quarter valued at approximately $180,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Selective Insurance Group

In other 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 transaction of $117,705.12. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at $1,388,258.76. This represents a 7.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SIGI. Morgan Stanley increased their target price on Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday. Wall Street Zen raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price objective on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Finally, BMO Capital Markets upped their price objective on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. One equities research 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. According to MarketBeat, Selective Insurance Group currently has a consensus rating of “Hold” and an average target price of $94.00.

Selective Insurance Group Stock Down 0.8%

SIGI opened at $86.56 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5.26 billion, a P/E ratio of 26.88 and a beta of 0.51. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56. The business’s fifty day simple moving average is $88.63 and its 200 day simple moving average is $90.61.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 EPS. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group’s payout ratio is currently 41.42%.

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.