Tributary Capital Management LLC Grows Stock Position in Selective Insurance Group, Inc. $SIGI

Tributary Capital Management LLC lifted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 91.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 552,650 shares of the insurance provider’s stock after purchasing an additional 263,631 shares during the quarter. Selective Insurance Group comprises 2.1% of Tributary Capital Management LLC’s holdings, making the stock its 9th biggest position. Tributary Capital Management LLC’s holdings in Selective Insurance Group were worth $44,803,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vident Advisory LLC lifted its stake in Selective Insurance Group by 13.4% in the first quarter. Vident Advisory LLC now owns 2,479 shares of the insurance provider’s stock valued at $227,000 after buying an additional 292 shares in the last quarter. Amundi raised its holdings in shares of Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 311 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Selective Insurance Group by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,230 shares of the insurance provider’s stock valued at $3,316,000 after acquiring an additional 1,616 shares in the last quarter. United Services Automobile Association acquired a new position in Selective Insurance Group in the 1st quarter worth $355,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Selective Insurance Group by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock worth $19,555,000 after purchasing an additional 11,167 shares in the last quarter. 82.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SIGI shares. BMO Capital Markets lowered Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday, November 17th. Royal Bank Of Canada began coverage on shares of Selective Insurance Group in a report on Monday, November 24th. They set an “outperform” rating and a $95.00 target price for the company. Finally, Zacks Research raised shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and an average price target of $81.60.

Selective Insurance Group Trading Down 0.2%

NASDAQ SIGI opened at $84.00 on Thursday. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $96.49. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $80.31 and a 200-day moving average of $80.86. The company has a market cap of $5.07 billion, a PE ratio of 12.94 and a beta of 0.24.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.38. Selective Insurance Group’s payout ratio is currently 26.50%.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.