Proficio Capital Partners LLC Invests $203,000 in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Proficio Capital Partners LLC bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, Holdings Channel reports. The institutional investor bought 203,125 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SIGI. FMR LLC boosted its position in shares of Selective Insurance Group by 28.6% during the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after acquiring an additional 1,216,801 shares in the last quarter. State Street Corp raised its position in shares of Selective Insurance Group by 3.1% during the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock worth $224,097,000 after acquiring an additional 71,296 shares in the last quarter. Geode Capital Management LLC lifted its stake in Selective Insurance Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $148,048,000 after purchasing an additional 26,880 shares during the last quarter. Boston Trust Walden Corp boosted 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 purchasing an additional 84,341 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Selective Insurance Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after purchasing an additional 21,374 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SIGI has been the subject of several recent analyst reports. 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 report on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $93.00 price objective (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 given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $84.03 on Thursday. The company’s 50 day simple moving average is $87.40 and its 200-day simple moving average is $91.94. The firm has a market cap of $5.11 billion, a PE ratio of 26.10 and a beta of 0.54. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $109.58. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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%. As a group, equities analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

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.