Ceredex Value Advisors LLC Acquires Shares of 112,100 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Ceredex Value Advisors LLC bought a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 112,100 shares of the insurance provider’s stock, valued at approximately $10,484,000. Ceredex Value Advisors LLC owned about 0.18% of Selective Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Selective Insurance Group in the 4th quarter worth about $25,000. UMB Bank n.a. increased its holdings 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 valued at $40,000 after buying an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 402 shares during the period. GAMMA Investing LLC boosted its stake in shares of Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at $180,000. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $88.90 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a 50 day moving average price of $86.06 and a 200-day moving average price of $91.47. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 27.61 and a beta of 0.45. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $104.67.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Equities analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were 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 was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SIGI shares. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley reduced their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and a consensus price target of $95.17.

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.