Selective Insurance Group, Inc. $SIGI Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp cut its stake in Selective Insurance Group by 10.7% in the first quarter, selling 50,748 shares and leaving it with 425,463 shares worth about $32.1 million.
• Analysts have generally turned more positive on SIGI, with several firms raising price targets; the stock now carries a consensus Hold rating and an average target price of $91.67.
• Selective Insurance Group reported Q1 earnings of $1.69 per share, missing estimates, but revenue of $1.36 billion topped expectations and rose 5.7% from a year earlier. The company also paid a quarterly dividend of $0.43 per share, or $1.72 annually.

Boston Trust Walden Corp trimmed its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 10.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,463 shares of the insurance provider's stock after selling 50,748 shares during the quarter. Boston Trust Walden Corp owned about 0.71% of Selective Insurance Group worth $32,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. purchased a new stake in Selective Insurance Group during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth $25,000. True Wealth Design LLC raised its stake in shares of Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Amundi raised its stake in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 311 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Selective Insurance Group by 38.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 154 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on SIGI shares. Piper Sandler upped their price objective on Selective Insurance Group from $82.00 to $93.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 26th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 price objective on shares of Selective Insurance Group in a research report on Monday, March 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $84.00 to $97.00 in a research note on Thursday, May 7th. Oppenheimer boosted their target price on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $91.67.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $100.15 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a 1-year low of $71.75 and a 1-year high of $100.30. The firm has a 50-day moving average of $89.53 and a two-hundred day moving average of $84.57. The stock has a market cap of $6.00 billion, a P/E ratio of 13.70 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the business earned $1.76 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that Selective Insurance Group, Inc. will post 7.81 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 15th. Selective Insurance Group's dividend payout ratio (DPR) is currently 23.53%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company's core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.

Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.