Headlands Technologies LLC Increases Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Headlands Technologies LLC grew its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 68.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,344 shares of the insurance provider’s stock after buying an additional 5,415 shares during the period. Headlands Technologies LLC’s holdings in Selective Insurance Group were worth $1,248,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its position 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 worth $40,000 after acquiring an additional 116 shares in the last quarter. Arizona State Retirement System lifted its stake in Selective Insurance Group by 0.7% during 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 last quarter. Pacer Advisors Inc. boosted its holdings in shares of Selective Insurance Group by 1.5% in the 4th quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock worth $847,000 after purchasing an additional 137 shares in the last quarter. Caprock Group LLC boosted 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 worth $369,000 after purchasing an additional 145 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Selective Insurance Group by 3.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider’s stock valued at $476,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 0.5 %

Shares of Selective Insurance Group stock opened at $91.96 on Wednesday. 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, Inc. has a 52-week low of $78.13 and a 52-week high of $106.95. The company’s 50 day moving average price is $86.50 and its 200-day moving average price is $91.88. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 28.56 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (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%. Equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.65%. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued 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 restated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, Morgan Stanley reduced their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.71.

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.