Tributary Capital Management LLC Boosts Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Tributary Capital Management LLC lifted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 318,174 shares of the insurance provider’s stock after purchasing an additional 4,222 shares during the period. Selective Insurance Group comprises approximately 2.3% of Tributary Capital Management LLC’s portfolio, making the stock its 6th largest holding. Tributary Capital Management LLC’s holdings in Selective Insurance Group were worth $29,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Selective Insurance Group during the third quarter valued at $27,000. UMB Bank n.a. raised its position 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 purchasing an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 buying an additional 402 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Selective Insurance Group in the 2nd quarter valued at about $44,000. Finally, GAMMA Investing LLC increased its stake in shares of Selective Insurance Group by 64.4% in 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 period. Institutional investors own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

SIGI has been the topic of several analyst reports. Bank of America upped their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price target on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Morgan Stanley initiated coverage on Selective Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and an average target price of $104.57.

Selective Insurance Group Price Performance

Shares of SIGI opened at $93.26 on Friday. The business’s fifty day moving average is $95.34 and its 200 day moving average is $93.04. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.67 billion, a P/E ratio of 25.14 and a beta of 0.62.

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.