New Age Alpha Advisors LLC Buys Shares of 46,666 Selective Insurance Group, Inc. (NASDAQ:SIGI)

New Age Alpha Advisors LLC purchased a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 46,666 shares of the insurance provider’s stock, valued at approximately $4,364,000. New Age Alpha Advisors LLC owned approximately 0.08% of Selective Insurance Group at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SIGI. Intech Investment Management LLC bought a new position in Selective Insurance Group during the third quarter valued at about $947,000. Citigroup Inc. lifted its holdings in Selective Insurance Group by 207.8% in the 3rd quarter. Citigroup Inc. now owns 53,885 shares of the insurance provider’s stock valued at $5,027,000 after acquiring an additional 36,376 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Selective Insurance Group by 63.2% during the 3rd quarter. Cerity Partners LLC now owns 6,709 shares of the insurance provider’s stock valued at $626,000 after purchasing an additional 2,597 shares in the last quarter. FMR LLC grew its stake in shares of Selective Insurance Group by 28.6% in the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after purchasing an additional 1,216,801 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Selective Insurance Group by 59.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 35,491 shares of the insurance provider’s stock worth $3,311,000 after purchasing an additional 13,210 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $91.79 on Friday. The company has a market capitalization of $5.58 billion, a PE ratio of 28.51 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The company’s 50 day moving average price is $86.59 and its 200 day moving average price is $91.81. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $108.92.

Selective Insurance Group (NASDAQ:SIGI) last issued its 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 expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

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

Analyst Ratings Changes

SIGI has been the topic of several research reports. Morgan Stanley dropped their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus price target of $98.71.

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.