Cornercap Investment Counsel Inc. trimmed its position in shares of Selective Insurance Group (NASDAQ:SIGI) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,625 shares of the insurance provider’s stock after selling 1,625 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Selective Insurance Group were worth $1,445,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SIGI. Public Employees Retirement System of Ohio lifted its position in shares of Selective Insurance Group by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after buying an additional 23 shares during the last quarter. McQueen Ball & Associates Inc. purchased a new stake in shares of Selective Insurance Group during the fourth quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Selective Insurance Group by 46.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,697 shares of the insurance provider’s stock valued at $217,000 after buying an additional 1,171 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Selective Insurance Group during the third quarter valued at about $263,000. Finally, Koch Industries Inc. purchased a new stake in shares of Selective Insurance Group during the fourth quarter valued at about $295,000. 78.71% of the stock is owned by institutional investors and hedge funds.
Selective Insurance Group (SIGI) opened at $61.30 on Tuesday. Selective Insurance Group has a fifty-two week low of $44.65 and a fifty-two week high of $62.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3,605.27, a PE ratio of 21.51, a PEG ratio of 0.90 and a beta of 1.34.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.72 annualized dividend and a yield of 1.17%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 25.26%.
SIGI has been the topic of several recent analyst reports. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Royal Bank of Canada restated a “hold” rating and set a $59.00 price objective on shares of Selective Insurance Group in a report on Friday, December 8th. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Wednesday, December 13th. Keefe, Bruyette & Woods set a $62.00 price objective on shares of Selective Insurance Group and gave the company a “hold” rating in a report on Monday, February 5th. Finally, BidaskClub downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $62.67.
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Selective Insurance Group Profile
Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.
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