AlphaQuest LLC Cuts Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

AlphaQuest LLC decreased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 95.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 338 shares of the insurance provider’s stock after selling 7,293 shares during the period. AlphaQuest LLC’s holdings in Selective Insurance Group were worth $32,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SIGI. R Squared Ltd purchased a new position in shares of Selective Insurance Group during the fourth quarter valued at approximately $25,000. UMB Bank n.a. boosted its position in shares of 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 boosted its position in shares of Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after buying an additional 402 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after buying an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new position in shares of Selective Insurance Group during the fourth quarter valued at approximately $180,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analyst Weigh In

SIGI has been the topic of several analyst reports. Morgan Stanley cut their target price on 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. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $98.71.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $88.71 on Friday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 27.55 and a beta of 0.54. The business’s fifty day simple moving average is $86.81 and its 200 day simple moving average is $91.79. 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, Inc. has a 12 month low of $78.13 and a 12 month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last issued 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%. As a group, 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. Selective Insurance Group’s payout ratio is presently 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.