Hudson Edge Investment Partners Inc. Has $342,000 Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Hudson Edge Investment Partners Inc. reduced its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 28.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,654 shares of the insurance provider’s stock after selling 1,421 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Selective Insurance Group were worth $342,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC increased its position in shares of Selective Insurance Group by 28.6% during the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after acquiring an additional 1,216,801 shares in the last quarter. State Street Corp boosted its stake in Selective Insurance Group by 3.1% in the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock worth $224,097,000 after purchasing an additional 71,296 shares during the period. Geode Capital Management LLC increased its holdings in Selective Insurance Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $148,048,000 after purchasing an additional 26,880 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Selective Insurance Group by 8.7% in the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock valued at $98,694,000 after purchasing an additional 84,341 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Selective Insurance Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after purchasing an additional 21,374 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $78.49 on Friday. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $109.58. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.77 billion, a P/E ratio of 24.38 and a beta of 0.61. The business’s 50 day moving average is $89.77 and its 200-day moving average is $92.11.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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%. Equities research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, February 14th. Selective Insurance Group’s dividend payout ratio is currently 47.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SIGI shares. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Morgan Stanley decreased their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $98.71.

Selective Insurance Group Profile

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.