Ausbil Investment Management Ltd Acquires 3,145 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Ausbil Investment Management Ltd lifted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 73.1% in the fourth quarter, Holdings Channel reports. The fund owned 7,446 shares of the insurance provider’s stock after purchasing an additional 3,145 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Selective Insurance Group were worth $688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Selective Insurance Group in the 4th quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in Selective Insurance Group in the third quarter worth about $27,000. UMB Bank n.a. boosted its position in shares of Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after buying an additional 402 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Selective Insurance Group in the second quarter worth approximately $44,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

NASDAQ SIGI opened at $84.13 on Friday. The company has a market cap of $5.11 billion, a PE ratio of 26.13 and a beta of 0.62. The firm’s 50 day moving average price is $94.65 and its 200-day moving average price is $92.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. Selective Insurance Group, Inc. has a 52-week low of $80.84 and a 52-week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced 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 7.39%. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.84 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. Selective Insurance Group’s dividend payout ratio is presently 47.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SIGI shares. Morgan Stanley initiated coverage on Selective Insurance Group in a report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price objective for the company. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their target price on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $104.57.

Selective Insurance Group 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.