Systematic Financial Management LP Increases Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Systematic Financial Management LP grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,272 shares of the insurance provider’s stock after buying an additional 10,360 shares during the quarter. Systematic Financial Management LP owned 0.52% of Selective Insurance Group worth $29,391,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Selective Insurance Group in the 4th quarter worth about $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 shares of Selective Insurance Group during the fourth quarter worth $203,000. Point72 Asset Management L.P. lifted its stake in shares of Selective Insurance Group by 245.7% during the fourth quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider’s stock worth $26,622,000 after buying an additional 202,318 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Selective Insurance Group by 39.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider’s stock valued at $52,796,000 after purchasing an additional 160,193 shares during the period. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,388,258.76. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

SIGI has been the subject of a number of research reports. Keefe, Bruyette & Woods cut 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 research note on Wednesday, April 30th. StockNews.com raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley dropped 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. Finally, BMO Capital Markets increased their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $93.50.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $89.09 on Friday. 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 stock has a market cap of $5.41 billion, a P/E ratio of 27.67 and a beta of 0.51. The company has a 50-day moving average of $88.51 and a two-hundred day moving average of $90.71. 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 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 business 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 7.33% and a net margin of 4.26%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. As a group, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.71%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 41.42%.

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.