Zurcher Kantonalbank Zurich Cantonalbank Buys 1,706 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,998 shares of the insurance provider’s stock after acquiring an additional 1,706 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Selective Insurance Group were worth $1,590,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Selective Insurance Group during the 4th quarter worth about $25,000. UMB Bank n.a. grew its holdings in Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Selective Insurance Group by 957.1% during the 4th 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 last quarter. GAMMA Investing LLC grew its holdings in 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 Selective Insurance Group during the 4th quarter worth about $180,000. Institutional investors own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SIGI shares. Morgan Stanley decreased 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 report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued 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 analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.71.

Selective Insurance Group Stock Up 1.6 %

Selective Insurance Group stock opened at $89.17 on Tuesday. The company’s 50 day simple moving average is $86.95 and its 200 day simple moving average is $91.86. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $109.58. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 27.69 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s payout ratio is 47.20%.

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.