MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.24 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,614 shares of the insurance provider’s stock after buying an additional 1,325 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Selective Insurance Group worth $3,237,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. UMB Bank n.a. lifted its holdings in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after buying an additional 116 shares during the period. Arizona State Retirement System raised its holdings in Selective Insurance Group by 0.7% in the fourth 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 holdings in Selective Insurance Group by 1.5% in the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock worth $847,000 after purchasing an additional 137 shares during the period. Caprock Group LLC raised its holdings in Selective Insurance Group by 3.8% in the fourth quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 145 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Selective Insurance Group by 8.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,542 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 202 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on SIGI. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. StockNews.com raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. BMO Capital Markets increased their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley increased their price objective on shares of Selective Insurance Group from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday. One equities 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.00.

Selective Insurance Group Stock Up 0.6%

Selective Insurance Group stock opened at $89.66 on Tuesday. The company has a market cap of $5.45 billion, a P/E ratio of 27.84 and a beta of 0.51. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $103.56. The company has a fifty day simple moving average of $88.62 and a 200 day simple moving average of $90.68. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17.

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

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 of this dividend is Thursday, May 15th. Selective Insurance Group’s dividend payout ratio is currently 41.42%.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

About Selective Insurance Group

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.