Selective Insurance Group, Inc. (NASDAQ:SIGI) Short Interest Update

Selective Insurance Group, Inc. (NASDAQ:SIGI) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 1,180,000 shares, a drop of 16.3% from the January 31st total of 1,410,000 shares. Based on an average daily volume of 390,600 shares, the short-interest ratio is currently 3.0 days.

Analysts Set New Price Targets

Several analysts have issued reports on SIGI shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley decreased 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.71.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock traded down $0.65 during midday trading on Thursday, hitting $84.39. The company had a trading volume of 5,634 shares, compared to its average volume of 438,264. The company has a fifty day simple moving average of $88.14 and a 200 day simple moving average of $92.04. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 26.23 and a beta of 0.54. 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 has a 12-month low of $78.13 and a 12-month 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 earnings per share 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%. As a group, analysts predict that Selective Insurance Group will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s payout ratio is 47.20%.

Institutional Investors Weigh In On Selective Insurance Group

A number of large investors have recently bought and sold shares of the company. 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 buying an additional 116 shares during the last quarter. Arizona State Retirement System grew its position in Selective Insurance Group by 0.7% during the 4th quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider’s stock worth $1,649,000 after purchasing an additional 123 shares during the period. Pacer Advisors Inc. raised its stake in shares of Selective Insurance Group by 1.5% during the 4th quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock valued at $847,000 after buying an additional 137 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Selective Insurance Group by 3.8% in the 4th quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock valued at $369,000 after buying an additional 145 shares during the period. Finally, Lindenwold Advisors INC lifted its holdings in shares of Selective Insurance Group by 5.4% in the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock valued at $277,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

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.