2,172 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,172 shares of the insurance provider’s stock, valued at approximately $203,000.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in Selective Insurance Group in the 3rd quarter valued at about $947,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 period. Citigroup Inc. grew its stake in Selective Insurance Group by 207.8% during the 3rd quarter. Citigroup Inc. now owns 53,885 shares of the insurance provider’s stock valued at $5,027,000 after purchasing an additional 36,376 shares in the last quarter. Cerity Partners LLC boosted its stake in Selective Insurance Group by 63.2% during the 3rd quarter. Cerity Partners LLC now owns 6,709 shares of the insurance provider’s stock valued at $626,000 after acquiring an additional 2,597 shares during the last quarter. Finally, FMR LLC lifted its holdings in 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 buying an additional 1,216,801 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SIGI shares. 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 research report on Friday, February 7th. Morgan Stanley dropped their price target on 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $98.71.

Selective Insurance Group Stock Up 2.3 %

Selective Insurance Group stock opened at $92.22 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $5.61 billion, a P/E ratio of 28.64 and a beta of 0.54. The firm’s fifty day simple moving average is $86.62 and its 200-day simple moving average is $91.79. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted 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%. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) 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.