Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,638 shares of the insurance provider's stock after selling 3,312 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.10% of Selective Insurance Group worth $5,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SIGI. Arizona State Retirement System raised its holdings in Selective Insurance Group by 0.7% in the fourth quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock worth $1,649,000 after purchasing an additional 123 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Selective Insurance Group by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,117 shares of the insurance provider's stock worth $651,000 after buying an additional 185 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in 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 valued at $238,000 after purchasing an additional 202 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Selective Insurance Group by 12.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,132 shares of the insurance provider's stock valued at $199,000 after buying an additional 232 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Selective Insurance Group by 4.1% in the fourth quarter. Captrust Financial Advisors now owns 6,141 shares of the insurance provider's stock worth $574,000 after acquiring an additional 244 shares during the period. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Price Performance

SIGI stock traded up $1.18 during mid-day trading on Friday, reaching $86.24. The company's stock had a trading volume of 169,470 shares, compared to its average volume of 395,014. The stock has a market cap of $5.24 billion, a PE ratio of 23.50 and a beta of 0.48. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The company's 50 day moving average is $87.17 and its two-hundred day moving average is $88.03. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $103.56.

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

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.76%. Selective Insurance Group's dividend payout ratio is currently 41.42%.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction on Friday, April 25th. The stock was 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 owned 15,946 shares of the company's stock, valued at $1,388,258.76. The trade was a 7.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on SIGI shares. Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods cut their price target on 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. Morgan Stanley upped their price objective on Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, BMO Capital Markets raised their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.00.

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.