Occudo Quantitative Strategies LP Boosts Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Occudo Quantitative Strategies LP raised its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 52.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,105 shares of the insurance provider’s stock after purchasing an additional 1,764 shares during the period. Occudo Quantitative Strategies LP’s holdings in Selective Insurance Group were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. UMB Bank n.a. boosted its stake 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 valued at $40,000 after acquiring an additional 116 shares in the last quarter. Arizona State Retirement System boosted its stake 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 valued at $1,649,000 after acquiring an additional 123 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Selective Insurance Group by 1.5% in the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock valued at $847,000 after acquiring an additional 137 shares in the last quarter. Caprock Group LLC boosted 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 acquiring an additional 145 shares in the last quarter. Finally, Heritage Family Offices LLP boosted its stake in Selective Insurance Group by 6.3% in the fourth quarter. Heritage Family Offices LLP now owns 3,255 shares of the insurance provider’s stock valued at $304,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

Shares of SIGI opened at $88.63 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $103.56. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 27.52 and a beta of 0.51. The firm has a 50-day simple moving average of $88.40 and a 200-day simple moving average of $90.72. 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 (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Selective Insurance Group’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. Selective Insurance Group’s payout ratio is currently 41.42%.

Analyst Ratings Changes

Several research firms have issued reports on SIGI. Morgan Stanley decreased their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets upped their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. StockNews.com upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods decreased their target price on shares of Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.50.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the sale, the chief accounting officer now owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

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.