Ameriprise Financial Inc. Acquires 5,039 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Ameriprise Financial Inc. lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,695 shares of the insurance provider’s stock after acquiring an additional 5,039 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.10% of Selective Insurance Group worth $5,957,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SIGI. Norges Bank bought a new position in shares of Selective Insurance Group during the 4th quarter worth approximately $93,409,000. Raymond James Financial Inc. acquired a new stake in Selective Insurance Group during the 4th quarter worth approximately $69,504,000. Proficio Capital Partners LLC acquired a new stake in Selective Insurance Group during the 4th quarter worth approximately $203,000. Ceredex Value Advisors LLC acquired a new stake in Selective Insurance Group during the 4th quarter worth approximately $10,484,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Selective Insurance Group by 15.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider’s stock worth $77,465,000 after purchasing an additional 110,381 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $86.28 on Friday. The stock has a market capitalization of $5.24 billion, a PE ratio of 26.80 and a beta of 0.51. 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 fifty day moving average price of $88.59 and a two-hundred day moving average price of $90.57. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.10). The company had revenue of $1.24 billion during 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%. Selective Insurance Group’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, equities analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.76%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 41.42%.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of the business’s stock in a transaction on Friday, April 25th. The stock was 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 approximately $1,388,258.76. The trade was a 7.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SIGI. Keefe, Bruyette & Woods dropped their price target on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Morgan Stanley lifted their price target on Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Wall Street Zen raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. BMO Capital Markets lifted their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.00.

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.