Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 65.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,588 shares of the insurance provider's stock after selling 33,356 shares during the period. Jane Street Group LLC's holdings in Selective Insurance Group were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SIGI. R Squared Ltd acquired a new position in Selective Insurance Group in the fourth quarter valued at $25,000. Quarry LP acquired a new stake in shares of Selective Insurance Group in the 4th quarter worth about $38,000. UMB Bank n.a. grew its position in Selective Insurance Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock worth $40,000 after purchasing an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock worth $42,000 after purchasing an additional 402 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in Selective Insurance Group in the 4th quarter worth about $180,000. Institutional investors own 82.88% of the company's stock.

Insiders Place Their Bets

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction on Friday, April 25th. The shares were 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 owns 15,946 shares of the company's stock, valued at approximately $1,388,258.76. The trade was a 7.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Selective Insurance Group Price Performance

SIGI stock traded down $0.28 during trading on Friday, hitting $86.28. 215,253 shares of the company's stock traded hands, compared to its average volume of 387,335. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The business has a fifty day simple moving average of $88.59 and a 200 day simple moving average of $90.51. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.80 and a beta of 0.51.

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

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is presently 41.42%.

Analyst Ratings Changes

Several research firms recently commented on SIGI. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. BMO Capital Markets raised 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 report on Tuesday, April 29th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Morgan Stanley increased their target price on shares of Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $94.00.

About Selective Insurance Group

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.