Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,422 shares of the insurance provider's stock after selling 8,069 shares during the period. BNP Paribas Financial Markets' holdings in Selective Insurance Group were worth $2,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SIGI. UMB Bank n.a. grew its position in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock worth $40,000 after acquiring an additional 116 shares during the period. Arizona State Retirement System raised its stake in shares of Selective Insurance Group by 0.7% in the 4th quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock valued at $1,649,000 after acquiring an additional 123 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Selective Insurance Group by 1.5% in the 4th quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider's stock worth $847,000 after acquiring an additional 137 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Selective Insurance Group by 3.8% in the 4th quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider's stock worth $369,000 after acquiring an additional 145 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Selective Insurance Group by 8.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,542 shares of the insurance provider's stock worth $238,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 82.88% of the company's stock.

Insider Buying and Selling

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SIGI shares. BMO Capital Markets boosted their target price on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research 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. Keefe, Bruyette & Woods decreased their target price on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. StockNews.com raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley increased their price target on shares of Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $94.00.

Selective Insurance Group Stock Down 1.5%

Shares of NASDAQ SIGI traded down $1.27 during mid-day trading on Thursday, hitting $85.96. The company had a trading volume of 23,613 shares, compared to its average volume of 385,147. The company has a market capitalization of $5.22 billion, a PE ratio of 26.68 and a beta of 0.51. The business's 50-day simple moving average is $88.68 and its 200 day simple moving average is $90.65. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $103.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.10). The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Selective Insurance Group's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. On average, 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, June 2nd. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.77%. Selective Insurance Group's dividend payout ratio (DPR) is 41.42%.

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.