Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC grew its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 42.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,950 shares of the insurance provider’s stock after purchasing an additional 19,159 shares during the period. Peregrine Capital Management LLC’s holdings in Selective Insurance Group were worth $5,981,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SIGI. Barclays PLC raised its holdings in Selective Insurance Group by 171.6% during the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock worth $10,711,000 after purchasing an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Selective Insurance Group by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider’s stock valued at $37,801,000 after buying an additional 7,563 shares in the last quarter. Quest Partners LLC raised its stake in shares of Selective Insurance Group by 2,486.8% during the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock worth $712,000 after buying an additional 7,336 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock worth $603,000 after buying an additional 1,747 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Selective Insurance Group by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after acquiring an additional 21,374 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SIGI shares. Royal Bank of Canada lifted their target price 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 Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, Bank of America upped their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.71.

Selective Insurance Group Trading Up 0.5 %

Shares of Selective Insurance Group stock opened at $82.53 on Wednesday. The firm has a market cap of $5.02 billion, a PE ratio of 25.63 and a beta of 0.61. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a fifty-two week low of $80.84 and a fifty-two week high of $109.58. The business’s fifty day moving average is $91.08 and its two-hundred day moving average is $92.37.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Analysts anticipate that Selective Insurance Group, Inc. will post 7.64 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, February 14th. Selective Insurance Group’s dividend payout ratio is currently 47.21%.

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.