Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 39.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 564,542 shares of the insurance provider’s stock after purchasing an additional 160,193 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Selective Insurance Group were worth $52,796,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after buying an additional 116 shares during the period. Arizona State Retirement System raised its holdings in Selective Insurance Group by 0.7% in the fourth quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider’s stock valued at $1,649,000 after acquiring an additional 123 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Selective Insurance Group by 1.5% in the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock valued at $847,000 after acquiring an additional 137 shares in the last quarter. Caprock Group LLC raised its holdings in Selective Insurance Group by 3.8% during the fourth quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 145 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 190 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $89.78 on Monday. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 27.88 and a beta of 0.51. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $88.12 and its 200 day moving average price is $90.79. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results 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 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%. Selective Insurance Group’s revenue for the quarter 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, research analysts forecast 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 disclosed 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 annualized dividend and a dividend yield of 1.69%. Selective Insurance Group’s payout ratio is currently 41.42%.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 15,946 shares in the company, valued at approximately $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

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

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.