Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and 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 about 1.72% of Selective Insurance Group worth $95,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. grew its holdings in Selective Insurance Group by 151.9% during the fourth quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider's stock valued at $7,815,000 after purchasing an additional 50,386 shares during the period. Proficio Capital Partners LLC bought a new stake in Selective Insurance Group during the 4th quarter worth approximately $203,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $82,693,000 after purchasing an additional 16,539 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Selective Insurance Group in the first quarter worth approximately $2,559,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Selective Insurance Group by 0.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 103,694 shares of the insurance provider's stock valued at $9,697,000 after purchasing an additional 783 shares during the period. Hedge funds and other institutional investors own 82.88% of the company's stock.

Insider Activity at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of the company's stock in a transaction 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 sale, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,388,258.76. This 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 through this hyperlink. 1.50% of the stock is owned by company insiders.

Selective Insurance Group Trading Up 0.3%

SIGI traded up $0.22 on Thursday, reaching $85.20. 365,495 shares of the company traded hands, compared to its average volume of 391,931. The firm has a fifty day simple moving average of $87.82 and a two-hundred day simple moving average of $89.01. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.30. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $103.56. The company has a market cap of $5.18 billion, a P/E ratio of 23.22 and a beta of 0.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. As a group, equities research analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were issued a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.78%. Selective Insurance Group's dividend payout ratio (DPR) is presently 41.42%.

Analyst Upgrades and Downgrades

SIGI has been the topic of a number of research reports. Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods cut their target price on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. BMO Capital Markets upped their price target 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, Morgan Stanley lifted their price objective on shares of Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $94.00.

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.