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

Peregrine Capital Management LLC raised its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 42.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,950 shares of the insurance provider’s stock after acquiring an additional 19,159 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.11% of Selective Insurance Group worth $5,981,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SIGI. Allworth Financial LP boosted its holdings in Selective Insurance Group by 1,517.8% in the fourth quarter. Allworth Financial LP now owns 3,187 shares of the insurance provider’s stock valued at $300,000 after purchasing an additional 2,990 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its position in shares of Selective Insurance Group by 13.3% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,496 shares of the insurance provider’s stock worth $233,000 after buying an additional 293 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Selective Insurance Group in the 4th quarter valued at $180,000. Rhumbline Advisers grew its position in shares of Selective Insurance Group by 3.0% in the 4th quarter. Rhumbline Advisers now owns 224,920 shares of the insurance provider’s stock valued at $21,034,000 after buying an additional 6,575 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Selective Insurance Group by 27.0% during the 4th quarter. Van ECK Associates Corp now owns 44,146 shares of the insurance provider’s stock worth $4,129,000 after acquiring an additional 9,387 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 0.5 %

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

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data 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 net margin of 4.26% and a return on equity of 7.33%. On average, analysts forecast that Selective Insurance Group, Inc. will post 7.64 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued 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 presently 47.21%.

Analyst Ratings Changes

SIGI has been the subject of several research analyst reports. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Bank of America raised their price target on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, Morgan Stanley reduced their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.71.

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.