Csenge Advisory Group Raises Stake in Selective Insurance Group (SIGI)

Csenge Advisory Group increased its position in shares of Selective Insurance Group (NASDAQ:SIGI) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,512 shares of the insurance provider’s stock after acquiring an additional 527 shares during the quarter. Csenge Advisory Group’s holdings in Selective Insurance Group were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. acquired a new position in Selective Insurance Group in the fourth quarter valued at about $52,892,000. Norges Bank acquired a new position in Selective Insurance Group in the fourth quarter valued at about $41,822,000. Mesirow Financial Investment Management Equity Management acquired a new position in Selective Insurance Group in the fourth quarter valued at about $11,517,000. Morgan Stanley lifted its stake in Selective Insurance Group by 75.1% in the third quarter. Morgan Stanley now owns 262,022 shares of the insurance provider’s stock valued at $16,638,000 after buying an additional 112,412 shares during the period. Finally, Vanguard Group Inc lifted its stake in Selective Insurance Group by 1.8% in the third quarter. Vanguard Group Inc now owns 5,848,362 shares of the insurance provider’s stock valued at $371,372,000 after buying an additional 105,870 shares during the period. 79.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of Selective Insurance Group stock opened at $70.90 on Monday. Selective Insurance Group has a 1 year low of $54.60 and a 1 year high of $72.60. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). Selective Insurance Group had a return on equity of 13.72% and a net margin of 8.32%. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $697.30 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts predict that Selective Insurance Group will post 4.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 21.86%.

SIGI has been the topic of several analyst reports. Zacks Investment Research raised Selective Insurance Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, February 6th. BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. ValuEngine downgraded Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Selective Insurance Group presently has an average rating of “Hold” and an average target price of $65.33.

In related news, Director Cynthia S. Nicholson sold 1,468 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $71.11, for a total transaction of $104,389.48. Following the completion of the transaction, the director now directly owns 19,859 shares in the company, valued at $1,412,173.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory E. Murphy sold 5,000 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.25, for a total value of $331,250.00. The disclosure for this sale can be found here. Insiders sold 38,803 shares of company stock valued at $2,665,611 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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About Selective Insurance Group

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, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance 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 a result of an insured's negligent acts, omissions, or legal liabilities.

Further Reading: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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