HighTower Advisors LLC Acquires 576 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

HighTower Advisors LLC increased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,560 shares of the insurance provider’s stock after buying an additional 576 shares during the period. HighTower Advisors LLC’s holdings in Selective Insurance Group were worth $426,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its stake in 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 during the period. Arizona State Retirement System grew its holdings in shares of Selective Insurance Group by 0.7% during the 4th 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 in the last quarter. Pacer Advisors Inc. increased its position in shares of Selective Insurance Group by 1.5% in 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 during the period. Caprock Group LLC raised its stake in Selective Insurance Group by 3.8% in the fourth 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 in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in Selective Insurance Group by 3.1% during the third 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 during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

SIGI stock opened at $91.54 on Tuesday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 28.43 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The company has a 50 day simple moving average of $86.56 and a 200 day simple moving average of $91.87. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $108.92.

Selective Insurance Group (NASDAQ:SIGI) last announced 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 net margin of 4.26% and a return on equity of 7.33%. Research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s payout ratio is 47.20%.

Analyst Upgrades and Downgrades

Several research firms have commented on SIGI. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Morgan Stanley decreased their price objective on shares of 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, Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. One equities 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 data from MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus 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.