Man Group plc Raises Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Man Group plc increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 63.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,532 shares of the insurance provider’s stock after acquiring an additional 33,250 shares during the period. Man Group plc owned approximately 0.14% of Selective Insurance Group worth $7,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Selective Insurance Group in the 4th quarter worth $25,000. Quarry LP acquired a new stake in Selective Insurance Group during the 4th quarter worth about $38,000. UMB Bank n.a. grew 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 purchasing an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Selective Insurance Group by 957.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 402 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in Selective Insurance Group during the 4th quarter worth about $180,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $89.66 on Tuesday. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $5.45 billion, a PE ratio of 27.84 and a beta of 0.51. The stock’s 50-day moving average price is $88.62 and its 200-day moving average price is $90.68.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned $1.33 earnings per share. Selective Insurance Group’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group’s dividend payout ratio is presently 41.42%.

Insider Activity at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at $1,388,258.76. This trade represents a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on SIGI. Keefe, Bruyette & Woods cut their price target on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets increased their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Morgan Stanley increased their price target on Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, StockNews.com raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $94.00.

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.