OppenheimerFunds Inc. trimmed its position in Selective Insurance Group (NASDAQ:SIGI) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,521 shares of the insurance provider’s stock after selling 4,571 shares during the quarter. OppenheimerFunds Inc.’s holdings in Selective Insurance Group were worth $1,674,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in 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 acquiring an additional 23 shares in the last quarter. McQueen Ball & Associates Inc. purchased a new position in Selective Insurance Group during the fourth quarter valued at approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 acquiring an additional 1,171 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Selective Insurance Group during the third quarter valued at approximately $263,000. Finally, Advisor Group Inc. raised its position in Selective Insurance Group by 75.3% during the third quarter. Advisor Group Inc. now owns 6,369 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 2,736 shares in the last quarter. Hedge funds and other institutional investors own 78.71% of the company’s stock.
Selective Insurance Group (NASDAQ:SIGI) opened at $60.80 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a 12-month low of $44.65 and a 12-month high of $62.40. The firm has a market capitalization of $3,570.00, a P/E ratio of 19.12, a P/E/G ratio of 0.90 and a beta of 1.34.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, February 14th. Selective Insurance Group’s payout ratio is currently 22.64%.
SIGI has been the subject of several recent research reports. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods set a $62.00 price target on Selective Insurance Group and gave the company a “hold” rating in a research report on Monday, February 5th. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Wednesday, December 13th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $59.00 price target on shares of Selective Insurance Group in a research report on Friday, December 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.67.
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About Selective Insurance Group
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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