Apollon Wealth Management LLC Has $660,000 Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Apollon Wealth Management LLC grew its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,061 shares of the insurance provider’s stock after buying an additional 1,392 shares during the quarter. Apollon Wealth Management LLC’s holdings in Selective Insurance Group were worth $660,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. FMR LLC raised its stake in shares of Selective Insurance Group by 28.6% in the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock valued at $510,239,000 after buying an additional 1,216,801 shares in the last quarter. State Street Corp increased its position in shares of Selective Insurance Group by 3.1% during the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock worth $224,097,000 after purchasing an additional 71,296 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Selective Insurance Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $148,048,000 after purchasing an additional 26,880 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock worth $98,694,000 after purchasing an additional 84,341 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock worth $80,956,000 after purchasing an additional 21,374 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SIGI has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated 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 report on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. 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 company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Down 1.9 %

Shares of NASDAQ:SIGI opened at $82.55 on Thursday. Selective Insurance Group, Inc. has a 12 month low of $80.84 and a 12 month high of $109.58. The company’s 50-day moving average price is $92.03 and its two-hundred day moving average price is $92.50. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5.02 billion, a P/E ratio of 25.64 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. As a group, research analysts forecast that Selective Insurance Group, Inc. will post 7.64 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.21%.

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.