Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Signaturefd LLC

Signaturefd LLC boosted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 58.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 673 shares of the insurance provider’s stock after purchasing an additional 249 shares during the quarter. Signaturefd LLC’s holdings in Selective Insurance Group were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Proficio Capital Partners LLC purchased a new position in shares of Selective Insurance Group in the 4th quarter valued at about $203,000. HighTower Advisors LLC increased its position in Selective Insurance Group by 14.5% during the fourth quarter. HighTower Advisors LLC now owns 4,560 shares of the insurance provider’s stock worth $426,000 after buying an additional 576 shares during the period. Xponance Inc. increased its position in Selective Insurance Group by 4.4% during the fourth quarter. Xponance Inc. now owns 8,617 shares of the insurance provider’s stock worth $806,000 after buying an additional 366 shares during the period. Teacher Retirement System of Texas acquired a new position in Selective Insurance Group during the fourth quarter worth approximately $1,032,000. Finally, Sei Investments Co. grew its stake in shares of Selective Insurance Group by 151.9% in the 4th quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider’s stock valued at $7,815,000 after purchasing an additional 50,386 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the firm’s stock in a transaction on 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 directly owned 15,946 shares of the company’s stock, valued at $1,388,258.76. This trade represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SIGI. BMO Capital Markets raised their price objective on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley raised 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. Keefe, Bruyette & Woods cut their target price on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $95.80.

Selective Insurance Group Trading Up 2.6%

Shares of NASDAQ:SIGI opened at $90.91 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.30. The stock has a market cap of $5.52 billion, a PE ratio of 24.77 and a beta of 0.48. The business has a 50 day moving average of $86.88 and a 200-day moving average of $87.48. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $103.56.

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 company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a return on equity of 8.06% and a net margin of 4.70%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

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.