Jane Street Group LLC Has $1.65 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Jane Street Group LLC decreased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 65.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,588 shares of the insurance provider’s stock after selling 33,356 shares during the quarter. Jane Street Group LLC’s holdings in Selective Insurance Group were worth $1,645,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC grew its position in Selective Insurance Group by 171.6% in the 3rd 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 last quarter. Franklin Resources Inc. raised its stake in shares of Selective Insurance Group by 38.4% in the third quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock worth $603,000 after acquiring an additional 1,747 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position 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 buying an additional 402 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Selective Insurance Group by 4.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 19,782 shares of the insurance provider’s stock worth $1,850,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,352 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total transaction of $117,705.12. Following the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,388,258.76. This represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SIGI shares. Morgan Stanley cut their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. StockNews.com raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.50.

Selective Insurance Group Price Performance

SIGI opened at $89.09 on Monday. 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 company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 27.67 and a beta of 0.51. The firm’s fifty day moving average price is $88.51 and its two-hundred day moving average price is $90.70. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Selective Insurance Group’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group’s dividend payout ratio is presently 41.42%.

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.