Kennedy Capital Management LLC Lowers Stock Holdings in Selective Insurance Group, Inc. $SIGI

Kennedy Capital Management LLC lowered its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 189,838 shares of the insurance provider’s stock after selling 25,227 shares during the period. Kennedy Capital Management LLC’s holdings in Selective Insurance Group were worth $15,884,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new position in Selective Insurance Group during the fourth quarter worth approximately $25,000. Los Angeles Capital Management LLC purchased a new position in shares of Selective Insurance Group in the fourth quarter valued at approximately $25,000. Amundi lifted its position in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of Selective Insurance Group by 680.0% in the third quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $84.00 to $97.00 in a report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their price objective on Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Selective Insurance Group in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Selective Insurance Group in a research note on Wednesday, March 25th. Finally, Oppenheimer lifted their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $91.67.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $92.41 on Friday. The stock’s 50-day moving average is $84.98 and its two-hundred day moving average is $82.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $92.73. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 12.64 and a beta of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company earned $1.76 EPS. Selective Insurance Group’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts forecast that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a yield of 1.9%. Selective Insurance Group’s dividend payout ratio is 23.53%.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.