Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 52.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,105 shares of the insurance provider’s stock after purchasing an additional 1,764 shares during the period. Occudo Quantitative Strategies LP’s holdings in Selective Insurance Group were worth $477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC lifted its holdings in Selective Insurance Group by 171.6% in the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock valued at $10,711,000 after acquiring an additional 72,530 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Selective Insurance Group by 38.4% in the third quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock valued at $603,000 after acquiring an additional 1,747 shares during the last quarter. Sei Investments Co. lifted its holdings in Selective Insurance Group by 151.9% in the fourth quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider’s stock valued at $7,815,000 after acquiring an additional 50,386 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Selective Insurance Group by 8.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock valued at $98,694,000 after acquiring an additional 84,341 shares during the last quarter. Finally, Pacer Advisors Inc. lifted 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 during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on SIGI shares. StockNews.com upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. BMO Capital Markets boosted their target price on Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley cut their target price on 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. Finally, 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 report on Wednesday, April 30th. One equities research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $93.50.

Selective Insurance Group Stock Up 2.4%

Selective Insurance Group stock opened at $88.63 on Friday. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56. The stock’s fifty day simple moving average is $88.40 and its 200-day simple moving average is $90.72. 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 firm has a market capitalization of $5.39 billion, a P/E ratio of 27.52 and a beta of 0.51.

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

Selective Insurance Group Announces Dividend

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 given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group’s dividend 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 stock in a transaction on Friday, April 25th. The stock was 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 of the company’s stock, valued at $1,388,258.76. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.