Raymond James Financial Inc. Purchases Shares of 743,201 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Raymond James Financial Inc. bought a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 743,201 shares of the insurance provider’s stock, valued at approximately $69,504,000. Raymond James Financial Inc. owned about 1.22% of Selective Insurance Group at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SIGI. R Squared Ltd purchased a new stake in Selective Insurance Group during the fourth quarter valued at approximately $25,000. UMB Bank n.a. lifted 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 worth $40,000 after purchasing an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake 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 period. GAMMA Investing LLC increased its stake 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 period. Finally, KBC Group NV increased its stake in shares of Selective Insurance Group by 18.1% during the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock valued at $172,000 after buying an additional 282 shares during the period. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Trading Down 0.9 %

Selective Insurance Group stock opened at $85.10 on Monday. 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 52 week low of $78.13 and a 52 week high of $109.58. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 26.43 and a beta of 0.54. The stock has a 50-day moving average price of $87.78 and a 200 day moving average price of $92.02.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 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%. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 47.20%.

Analyst Upgrades and Downgrades

SIGI has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. 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 note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.