Tributary Capital Management LLC Sells 8,843 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Tributary Capital Management LLC decreased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,331 shares of the insurance provider's stock after selling 8,843 shares during the quarter. Selective Insurance Group makes up approximately 2.5% of Tributary Capital Management LLC's holdings, making the stock its 4th biggest holding. Tributary Capital Management LLC owned 0.51% of Selective Insurance Group worth $28,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. lifted its stake in Selective Insurance Group by 36.2% during the first 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 in the last quarter. Northern Trust Corp lifted its position in shares of Selective Insurance Group by 9.3% in the 4th quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider's stock valued at $98,396,000 after acquiring an additional 89,692 shares in the last quarter. Norges Bank acquired a new position in Selective Insurance Group in the 4th quarter worth approximately $93,409,000. Jacobs Levy Equity Management Inc. grew its position in Selective Insurance Group by 39.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 564,542 shares of the insurance provider's stock worth $52,796,000 after purchasing an additional 160,193 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Selective Insurance Group by 18.1% during the 4th quarter. JPMorgan Chase & Co. now owns 478,609 shares of the insurance provider's stock valued at $44,760,000 after purchasing an additional 73,456 shares during the period. Institutional investors own 82.88% of the company's stock.

Insider Buying and Selling at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the company'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 directly owned 15,946 shares in the company, valued at approximately $1,388,258.76. This represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BMO Capital Markets increased their price objective on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods lowered 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 report on Wednesday, April 30th. Finally, Morgan Stanley upped their target price on shares of Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $94.00.

Selective Insurance Group Trading Up 1.1%

Shares of NASDAQ:SIGI traded up $0.96 during midday trading on Friday, hitting $89.53. 445,726 shares of the stock traded hands, compared to its average volume of 393,656. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $5.44 billion, a PE ratio of 24.40 and a beta of 0.48. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $103.56. The business's 50 day moving average is $86.88 and its two-hundred day moving average is $87.48.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $1.33 EPS. Selective Insurance Group's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

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

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.