Financial Strategies Group Inc. Grows Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Financial Strategies Group Inc. increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,155 shares of the insurance provider’s stock after purchasing an additional 1,136 shares during the quarter. Financial Strategies Group Inc.’s holdings in Selective Insurance Group were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Berry Wealth Group LP lifted its stake in shares of Selective Insurance Group by 54.5% in the 4th quarter. Berry Wealth Group LP now owns 3,401 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 1,200 shares during the period. Ausbil Investment Management Ltd raised its stake in Selective Insurance Group by 73.1% during the fourth quarter. Ausbil Investment Management Ltd now owns 7,446 shares of the insurance provider’s stock valued at $688,000 after buying an additional 3,145 shares during the last quarter. Caprock Group LLC raised its stake in Selective Insurance Group by 3.8% during the fourth 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 last quarter. Swedbank AB purchased a new position in Selective Insurance Group during the fourth quarter valued at $2,338,000. Finally, R Squared Ltd purchased a new position in Selective Insurance Group during the fourth quarter valued at $25,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 2.4 %

SIGI stock opened at $84.13 on Monday. Selective Insurance Group, Inc. has a 1-year low of $80.84 and a 1-year high of $109.58. The business has a fifty day moving average price of $94.65 and a 200-day moving average price of $92.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.35. The stock has a market capitalization of $5.11 billion, a P/E ratio of 26.13 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Equities analysts forecast that Selective Insurance Group, Inc. will post 7.77 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company 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 $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group’s payout ratio is currently 47.21%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Selective Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and a consensus target price of $104.57.

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.