Securian Asset Management Inc. Sells 130 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Securian Asset Management Inc. lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,595 shares of the insurance provider’s stock after selling 130 shares during the quarter. Securian Asset Management Inc.’s holdings in Selective Insurance Group were worth $430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SIGI. R Squared Ltd purchased a new stake in Selective Insurance Group in the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its position in shares of 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 buying an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 worth $42,000 after acquiring an additional 402 shares during the last quarter. GAMMA Investing LLC grew its position in Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 190 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in Selective Insurance Group in the fourth quarter valued at $180,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 1.6 %

Shares of SIGI stock opened at $89.17 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50-day moving average of $86.95 and a 200 day moving average of $91.86. The stock has a market capitalization of $5.42 billion, a PE ratio of 27.69 and a beta of 0.54. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. As a group, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

Analyst Ratings Changes

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

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.