Boston Trust Walden Corp Lowers Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Boston Trust Walden Corp lessened its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,046,667 shares of the insurance provider's stock after selling 8,654 shares during the period. Boston Trust Walden Corp owned 1.72% of Selective Insurance Group worth $95,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. raised its position in shares of Selective Insurance Group by 36.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider's stock worth $103,280,000 after purchasing an additional 299,925 shares during the last quarter. Northern Trust Corp raised its position in shares of 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 last quarter. Norges Bank acquired a new position in shares of Selective Insurance Group during the 4th quarter worth about $93,409,000. Charles Schwab Investment Management Inc. raised its position in shares of Selective Insurance Group by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after purchasing an additional 16,539 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Selective Insurance Group during the 4th quarter worth about $69,504,000. Institutional investors and hedge funds own 82.88% of the company's stock.

Selective Insurance Group Trading Down 0.1%

Shares of Selective Insurance Group stock traded down $0.08 during mid-day trading on Friday, hitting $85.12. The stock had a trading volume of 622,004 shares, compared to its average volume of 393,679. The firm has a 50-day moving average of $87.77 and a two-hundred day moving average of $88.73. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $103.56. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.30. The firm has a market cap of $5.17 billion, a P/E ratio of 23.19 and a beta of 0.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted 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). Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same period last year, the company earned $1.33 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.79%. Selective Insurance Group's dividend payout ratio (DPR) is 41.42%.

Wall Street Analysts Forecast Growth

SIGI has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. BMO Capital Markets upped their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research note on Wednesday, April 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.00.

Insider Activity

In related news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company's stock, valued at approximately $1,388,258.76. This trade represents a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.