Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,401 shares of the insurance provider’s stock after selling 10,993 shares during the quarter. Renaissance Technologies LLC’s holdings in Selective Insurance Group were worth $13,037,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SIGI. UMB Bank n.a. lifted its holdings in shares of Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 116 shares during the last quarter. Arizona State Retirement System grew its position in Selective Insurance Group by 0.7% during the fourth quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider’s stock valued at $1,649,000 after purchasing an additional 123 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Selective Insurance Group by 1.5% during the 4th 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 increased its position in Selective Insurance Group by 3.8% in the 4th quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 145 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after buying an additional 190 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $88.24 on Wednesday. The firm has a market capitalization of $5.36 billion, a PE ratio of 27.40 and a beta of 0.45. 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, Inc. has a 12-month low of $78.13 and a 12-month high of $104.67. The firm has a 50-day moving average price of $85.98 and a 200 day moving average price of $91.49.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Research analysts anticipate 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 was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.72%. Selective Insurance Group’s payout ratio is presently 47.20%.

Analyst Ratings Changes

SIGI has been the topic of several recent research reports. 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 report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $95.17.

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.