Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,492 shares of the insurance provider’s stock after buying an additional 1,118 shares during the period. Bank of Montreal Can’s holdings in Selective Insurance Group were worth $888,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SIGI. HighTower Advisors LLC lifted its stake in Selective Insurance Group by 8.3% during the third quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider’s stock worth $376,000 after purchasing an additional 307 shares during the last quarter. Barclays PLC raised its holdings in shares of Selective Insurance Group by 171.6% during the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock worth $10,711,000 after purchasing an additional 72,530 shares during the period. Pine Valley Investments Ltd Liability Co bought a new position in shares of Selective Insurance Group in the 3rd quarter worth about $345,000. Sanctuary Advisors LLC boosted its holdings in shares of Selective Insurance Group by 51.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,211 shares of the insurance provider’s stock valued at $412,000 after buying an additional 1,438 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Selective Insurance Group by 38.4% during the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock valued at $603,000 after buying an additional 1,747 shares during the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI opened at $89.66 on Friday. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $104.67. The company has a market cap of $5.45 billion, a PE ratio of 27.84 and a beta of 0.45. The stock has a 50 day simple moving average of $86.27 and a 200-day simple moving average of $91.41. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17.

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

Selective Insurance Group Announces Dividend

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

Wall Street Analyst Weigh In

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

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.