AQR Capital Management LLC Sells 25,246 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

AQR Capital Management LLC lessened its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 22.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 87,706 shares of the insurance provider's stock after selling 25,246 shares during the period. AQR Capital Management LLC owned approximately 0.14% of Selective Insurance Group worth $8,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Boston Trust Walden Corp raised its position in Selective Insurance Group by 8.7% during the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock worth $98,694,000 after acquiring an additional 84,341 shares during the last quarter. Northern Trust Corp boosted its position in Selective Insurance Group by 9.3% during the 4th quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider's stock worth $98,396,000 after purchasing an additional 89,692 shares during the period. Norges Bank acquired a new position in shares of Selective Insurance Group during the fourth quarter worth $93,409,000. Charles Schwab Investment Management Inc. increased its position in shares of Selective Insurance Group by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after acquiring an additional 16,539 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Selective Insurance Group by 15.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider's stock valued at $77,465,000 after purchasing an additional 110,381 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company's stock.

Selective Insurance Group Stock Down 0.9%

NASDAQ:SIGI traded down $0.85 on Monday, hitting $88.88. The stock had a trading volume of 49,941 shares, compared to its average volume of 382,636. The company has a market cap of $5.40 billion, a PE ratio of 27.47 and a beta of 0.51. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56. The business's fifty day moving average is $88.12 and its 200 day moving average is $90.79.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the business posted $1.33 earnings per share. Selective Insurance Group's revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. Selective Insurance Group's payout ratio is currently 41.42%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SIGI. BMO Capital Markets lifted their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Morgan Stanley dropped their target price on Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lowered their price target on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $93.50.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,388,258.76. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company's stock.

Selective Insurance Group Company 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.