KLP Kapitalforvaltning AS Makes New $1.19 Million Investment in Selective Insurance Group, Inc. (NASDAQ:SIGI)

KLP Kapitalforvaltning AS acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,700 shares of the insurance provider’s stock, valued at approximately $1,188,000.

Several other institutional investors have also recently made changes to their positions in SIGI. R Squared Ltd acquired a new stake in Selective Insurance Group during the fourth quarter valued at $25,000. UMB Bank n.a. raised its position in shares of Selective Insurance Group by 37.1% in the fourth 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 period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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 in the last quarter. GAMMA Investing LLC grew its position 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 valued at $45,000 after acquiring an additional 190 shares during the period. Finally, Roxbury Financial LLC purchased a new position in shares of Selective Insurance Group in the 4th quarter valued at about $180,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $91.79 on Friday. The stock’s 50 day simple moving average is $86.59 and its 200-day simple moving average is $91.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $5.58 billion, a PE ratio of 28.51 and a beta of 0.54. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $108.92.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 EPS 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, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

Analyst Ratings Changes

SIGI has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley reduced their target price on 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 reissued a “market perform” rating and issued a $93.00 price target (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 assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.71.

Selective Insurance Group Company 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.