EFG Asset Management North America Corp. Grows Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

EFG Asset Management North America Corp. grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 59.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,060 shares of the insurance provider’s stock after purchasing an additional 8,995 shares during the period. EFG Asset Management North America Corp.’s holdings in Selective Insurance Group were worth $2,250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SIGI. Pathstone Holdings LLC raised its stake in Selective Insurance Group by 1.6% in the third quarter. Pathstone Holdings LLC now owns 26,535 shares of the insurance provider’s stock valued at $2,476,000 after buying an additional 412 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Selective Insurance Group during the third quarter valued at about $947,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Selective Insurance Group by 2.5% during 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 acquiring an additional 21,374 shares in the last quarter. Citigroup Inc. raised its position in shares of Selective Insurance Group by 207.8% in 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 during the last quarter. Finally, Cerity Partners LLC boosted its stake in Selective Insurance Group by 63.2% in the 3rd quarter. Cerity Partners LLC now owns 6,709 shares of the insurance provider’s stock worth $626,000 after purchasing an additional 2,597 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 1.0 %

NASDAQ SIGI opened at $89.63 on Wednesday. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $109.58. 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 capitalization of $5.45 billion, a PE ratio of 27.84 and a beta of 0.54. The company has a fifty day moving average of $86.73 and a 200 day moving average of $91.80.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.70%. Selective Insurance Group’s dividend payout ratio is presently 47.20%.

Wall Street Analysts Forecast Growth

SIGI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. 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, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One 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. According to MarketBeat, the stock 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.