Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. raised its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 116.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 928 shares of the insurance provider’s stock after purchasing an additional 499 shares during the quarter. UMB Bank n.a.’s holdings in Selective Insurance Group were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Selective Insurance Group in the 4th quarter valued at approximately $93,409,000. Raymond James Financial Inc. purchased a new position in Selective Insurance Group in the fourth quarter worth $69,504,000. Proficio Capital Partners LLC acquired a new stake in Selective Insurance Group in the fourth quarter valued at $203,000. Point72 Asset Management L.P. lifted its holdings in Selective Insurance Group by 245.7% in the fourth quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider’s stock valued at $26,622,000 after acquiring an additional 202,318 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Selective Insurance Group by 39.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider’s stock worth $52,796,000 after purchasing an additional 160,193 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SIGI shares. Wall Street Zen upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. Morgan Stanley upped their target price on shares of Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods dropped their target price on shares of 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. Finally, BMO Capital Markets boosted their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and an average price target of $94.00.

Insider Buying and Selling at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $87.06, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $85.82 on Friday. The firm has a market capitalization of $5.22 billion, a PE ratio of 26.65 and a beta of 0.49. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56. The firm’s 50-day simple moving average is $87.80 and its 200 day simple moving average is $89.46. 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 announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. On average, equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, May 15th. Selective Insurance Group’s payout ratio is currently 41.42%.

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.