Tributary Capital Management LLC lifted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 5.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 384,941 shares of the insurance provider’s stock after acquiring an additional 18,756 shares during the period. Selective Insurance Group accounts for about 2.7% of Tributary Capital Management LLC’s portfolio, making the stock its 2nd largest position. Tributary Capital Management LLC owned approximately 0.64% of Selective Insurance Group worth $34,398,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SIGI. Invesco Ltd. raised its holdings in Selective Insurance Group by 149.6% during the fourth quarter. Invesco Ltd. now owns 365,795 shares of the insurance provider’s stock worth $29,974,000 after buying an additional 219,240 shares during the last quarter. Atlanta Capital Management Co. L L C raised its holdings in Selective Insurance Group by 19.2% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 886,879 shares of the insurance provider’s stock worth $72,671,000 after buying an additional 143,130 shares during the last quarter. Eaton Vance Management raised its holdings in Selective Insurance Group by 21.3% during the fourth quarter. Eaton Vance Management now owns 786,757 shares of the insurance provider’s stock worth $64,327,000 after buying an additional 138,236 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Selective Insurance Group by 32.5% during the fourth quarter. Nuveen Asset Management LLC now owns 384,364 shares of the insurance provider’s stock worth $31,495,000 after buying an additional 94,311 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Selective Insurance Group by 21.6% in the 4th quarter. JPMorgan Chase & Co. now owns 455,161 shares of the insurance provider’s stock worth $37,296,000 after acquiring an additional 80,736 shares in the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Several analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Selective Insurance Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley assumed coverage on shares of Selective Insurance Group in a research note on Monday, June 27th. They issued an “overweight” rating and a $98.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $88.50.
Selective Insurance Group (NASDAQ:SIGI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.03. The company had revenue of $846.10 million during the quarter, compared to analyst estimates of $883.09 million. Selective Insurance Group had a net margin of 10.19% and a return on equity of 13.77%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, equities analysts expect that Selective Insurance Group, Inc. will post 5.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Monday, May 16th were given a dividend of $0.28 per share. The ex-dividend date was Friday, May 13th. This represents a $1.12 annualized dividend and a yield of 1.28%. Selective Insurance Group’s payout ratio is currently 19.86%.
Selective Insurance Group Company Profile (Get Rating)
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and 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, as well as flood insurance products.
- Get a free copy of the StockNews.com research report on Selective Insurance Group (SIGI)
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