Wells Fargo & Company MN Acquires 15,344 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Wells Fargo & Company MN boosted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,099 shares of the insurance provider’s stock after purchasing an additional 15,344 shares during the quarter. Wells Fargo & Company MN owned approximately 0.20% of Selective Insurance Group worth $11,419,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ExodusPoint Capital Management LP lifted its position in shares of Selective Insurance Group by 180.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 9,816 shares of the insurance provider’s stock worth $918,000 after buying an additional 6,317 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Selective Insurance Group during the 4th quarter worth approximately $799,000. Headlands Technologies LLC boosted its position in shares of Selective Insurance Group by 68.3% during the 4th quarter. Headlands Technologies LLC now owns 13,344 shares of the insurance provider’s stock valued at $1,248,000 after acquiring an additional 5,415 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Selective Insurance Group by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 6,698 shares of the insurance provider’s stock valued at $626,000 after acquiring an additional 402 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Selective Insurance Group by 8.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,542 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 202 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, Morgan Stanley cut their target price on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.17.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $88.24 on Wednesday. The stock has a market cap of $5.36 billion, a PE ratio of 27.40 and a beta of 0.45. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $104.67. The business has a 50-day simple moving average of $85.98 and a 200-day simple moving average of $91.49. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last issued 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 return on equity of 7.33% and a net margin of 4.26%. On average, equities analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

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.