Emerald Mutual Fund Advisers Trust Sells 49,832 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Emerald Mutual Fund Advisers Trust lessened its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 89.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,059 shares of the insurance provider's stock after selling 49,832 shares during the quarter. Emerald Mutual Fund Advisers Trust's holdings in Selective Insurance Group were worth $555,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SIGI. Proficio Capital Partners LLC purchased a new stake in Selective Insurance Group in the 4th quarter worth approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Selective Insurance Group by 11.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,998 shares of the insurance provider's stock worth $1,590,000 after buying an additional 1,706 shares in the last quarter. HighTower Advisors LLC lifted its position in Selective Insurance Group by 14.5% in the 4th quarter. HighTower Advisors LLC now owns 4,560 shares of the insurance provider's stock worth $426,000 after buying an additional 576 shares in the last quarter. Swiss National Bank lifted its position in Selective Insurance Group by 0.8% in the 4th quarter. Swiss National Bank now owns 119,600 shares of the insurance provider's stock worth $11,185,000 after buying an additional 900 shares in the last quarter. Finally, Vestcor Inc lifted its position in Selective Insurance Group by 70.5% in the 4th quarter. Vestcor Inc now owns 7,696 shares of the insurance provider's stock worth $720,000 after buying an additional 3,183 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Analysts Set New Price Targets

SIGI has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research 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 stock an "equal weight" rating in a research report on Monday, May 19th. 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 research report on Wednesday, April 30th. Finally, BMO Capital Markets raised their price target on shares of Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Selective Insurance Group currently has a consensus rating of "Hold" and a consensus target price of $94.00.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction dated 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 owned 15,946 shares in the company, valued at approximately $1,388,258.76. The trade was a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Selective Insurance Group Stock Down 0.2%

Shares of Selective Insurance Group stock traded down $0.16 during midday trading on Friday, reaching $86.25. 408,954 shares of the company's stock traded hands, compared to its average volume of 399,263. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 23.50 and a beta of 0.48. The company's 50 day simple moving average is $87.03 and its 200 day simple moving average is $87.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.35 and a current ratio of 0.35. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $103.56.

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 business had revenue of $1.24 billion for 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 revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 EPS. Equities analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

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 dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.76%. Selective Insurance Group's payout ratio is 41.42%.

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.