Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 89.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,059 shares of the insurance provider's stock after selling 49,832 shares during the period. Emerald Mutual Fund Advisers Trust's holdings in Selective Insurance Group were worth $555,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SIGI. Norges Bank purchased a new stake in Selective Insurance Group during the 4th quarter valued at about $93,409,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Selective Insurance Group by 36.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider's stock valued at $103,280,000 after buying an additional 299,925 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Selective Insurance Group by 245.7% in the 4th quarter. Point72 Asset Management L.P. now owns 284,669 shares of the insurance provider's stock valued at $26,622,000 after buying an additional 202,318 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Selective Insurance Group by 39.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider's stock valued at $52,796,000 after buying an additional 160,193 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Selective Insurance Group in the 4th quarter valued at approximately $10,484,000. Institutional investors and hedge funds own 82.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SIGI shares. BMO Capital Markets upped their price objective on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Keefe, Bruyette & Woods decreased their price objective 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. Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley increased their target price on shares of 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 issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $94.00.

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded up $1.25 during midday trading on Wednesday, hitting $87.32. 394,829 shares of the company's stock were exchanged, compared to its average volume of 399,834. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $103.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 23.79 and a beta of 0.48. The firm's 50 day simple moving average is $86.95 and its 200 day simple moving average is $87.62.

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

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, May 15th. Selective Insurance Group's payout ratio is currently 41.42%.

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

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.