KLP Kapitalforvaltning AS Buys Shares of 12,700 Selective Insurance Group, Inc. (NASDAQ:SIGI)

KLP Kapitalforvaltning AS bought a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,700 shares of the insurance provider’s stock, valued at approximately $1,188,000.

Several other hedge funds have also modified their holdings of SIGI. UMB Bank n.a. raised its stake in shares of Selective Insurance Group by 37.1% during the 4th 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 grew 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 last quarter. Pacer Advisors Inc. increased its position in shares of Selective Insurance Group by 1.5% during 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 in the last quarter. Caprock Group LLC lifted its holdings in shares of Selective Insurance Group by 3.8% during the 4th quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock valued at $369,000 after purchasing an additional 145 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Selective Insurance Group by 3.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider’s stock worth $476,000 after purchasing an additional 155 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Stock Down 0.5 %

Shares of SIGI stock opened at $91.79 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $108.92. The firm has a market capitalization of $5.58 billion, a PE ratio of 28.51 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The stock’s 50-day simple moving average is $86.59 and its 200-day simple moving average is $91.83.

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

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Morgan Stanley dropped their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $98.71.

Selective Insurance Group Company 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.