Pullen Investment Management LLC Has $2.06 Million Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pullen Investment Management LLC boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 77.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,548 shares of the insurance provider's stock after acquiring an additional 9,812 shares during the quarter. Selective Insurance Group accounts for about 1.3% of Pullen Investment Management LLC's investment portfolio, making the stock its 21st largest holding. Pullen Investment Management LLC's holdings in Selective Insurance Group were worth $2,064,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Selective Insurance Group in the fourth quarter worth approximately $38,000. Toth Financial Advisory Corp acquired a new position in Selective Insurance Group in the 1st quarter valued at approximately $41,000. UMB Bank n.a. lifted its position in Selective Insurance Group by 116.3% in the 1st quarter. UMB Bank n.a. now owns 928 shares of the insurance provider's stock worth $85,000 after buying an additional 499 shares in the last quarter. CX Institutional purchased a new stake in Selective Insurance Group in the 1st quarter worth approximately $136,000. Finally, Roxbury Financial LLC acquired a new stake in shares of Selective Insurance Group during the 4th quarter valued at $180,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $117,705.12. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI traded down $0.26 during trading on Tuesday, reaching $84.98. The stock had a trading volume of 312,030 shares, compared to its average volume of 391,472. The stock has a fifty day simple moving average of $87.85 and a two-hundred day simple moving average of $89.04. 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 52 week low of $78.13 and a 52 week high of $103.56. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 23.16 and a beta of 0.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a return on equity of 8.06% and a net margin of 4.70%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 EPS. As a group, analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed 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 was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.79%. Selective Insurance Group's payout ratio is presently 41.42%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on 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 raised their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley increased 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.