Fox Run Management L.L.C. Purchases Shares of 10,780 Selective Insurance Group, Inc. (NASDAQ:SIGI)

Fox Run Management L.L.C. purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 10,780 shares of the insurance provider’s stock, valued at approximately $1,008,000.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Selective Insurance Group in the fourth quarter valued at $25,000. UMB Bank n.a. lifted its stake 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 acquiring an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 402 shares during the last quarter. GAMMA Investing LLC lifted its stake in Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Selective Insurance Group in the fourth quarter valued at $180,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SIGI shares. Morgan Stanley cut 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 note on Monday, February 3rd. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated 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 note on Friday, February 7th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.71.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $88.71 on Friday. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $109.58. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 27.55 and a beta of 0.54. The firm’s 50-day simple moving average is $86.81 and its 200 day simple moving average is $91.79. 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 (NASDAQ:SIGI) last released its quarterly earnings results 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 return on equity of 7.33% and a net margin of 4.26%. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio is 47.20%.

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.