Trust Point Inc. Sells 5,885 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Trust Point Inc. decreased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 38.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,233 shares of the insurance provider's stock after selling 5,885 shares during the period. Trust Point Inc.'s holdings in Selective Insurance Group were worth $845,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Selective Insurance Group by 0.7% during the 4th quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock valued at $1,649,000 after buying an additional 123 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Selective Insurance Group by 8.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,542 shares of the insurance provider's stock worth $238,000 after acquiring an additional 202 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Selective Insurance Group by 12.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,132 shares of the insurance provider's stock worth $199,000 after purchasing an additional 232 shares during the period. Captrust Financial Advisors increased its position in Selective Insurance Group by 4.1% during the 4th quarter. Captrust Financial Advisors now owns 6,141 shares of the insurance provider's stock valued at $574,000 after buying an additional 244 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC increased its holdings in shares of Selective Insurance Group by 13.3% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,496 shares of the insurance provider's stock valued at $233,000 after acquiring an additional 293 shares in the last quarter. Institutional investors own 82.88% of the company's stock.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,388,258.76. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SIGI. BMO Capital Markets increased 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. Morgan Stanley upped their price objective on 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. Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. One equities research 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. Based on data from MarketBeat.com, Selective Insurance Group currently 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 $0.12 during midday trading on Monday, reaching $85.24. 300,339 shares of the company traded hands, compared to its average volume of 391,012. 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 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50 day moving average of $87.84 and a two-hundred day moving average of $89.18. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 26.47 and a beta of 0.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its 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 company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Selective Insurance Group's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.78%. 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.