Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Position Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,108 shares of the insurance provider's stock after selling 119,229 shares during the period. Nuveen Asset Management LLC owned about 0.84% of Selective Insurance Group worth $47,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SIGI. Boston Trust Walden Corp boosted its position in Selective Insurance Group by 8.7% during the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock valued at $98,694,000 after purchasing an additional 84,341 shares during the last quarter. Northern Trust Corp raised its holdings in Selective Insurance Group by 9.3% during the fourth quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider's stock valued at $98,396,000 after buying an additional 89,692 shares in the last quarter. Norges Bank bought a new position in Selective Insurance Group during the fourth quarter valued at about $93,409,000. Charles Schwab Investment Management Inc. increased its stake in shares of Selective Insurance Group by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after purchasing an additional 16,539 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Selective Insurance Group by 15.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider's stock worth $77,465,000 after purchasing an additional 110,381 shares during the period. Institutional investors and hedge funds own 82.88% of the company's stock.

Wall Street Analyst Weigh In

SIGI has been the topic of several research reports. Morgan Stanley boosted their price target on Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday. StockNews.com raised Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. BMO Capital Markets boosted their target price on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reduced their price objective on 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $94.00.

Selective Insurance Group Stock Performance

SIGI stock opened at $89.66 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56. The business's fifty day moving average is $88.62 and its 200-day moving average is $90.68. The company has a market cap of $5.45 billion, a P/E ratio of 27.84 and a beta of 0.51.

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

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group's dividend payout ratio (DPR) is presently 41.42%.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company's stock.

Selective Insurance Group 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.

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