Peregrine Capital Management LLC Sells 20,833 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Peregrine Capital Management LLC decreased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 24.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,059 shares of the insurance provider's stock after selling 20,833 shares during the period. Peregrine Capital Management LLC owned approximately 0.10% of Selective Insurance Group worth $6,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SIGI. BlackRock Inc. lifted its stake in shares of Selective Insurance Group by 0.3% in the first quarter. BlackRock Inc. now owns 7,113,349 shares of the insurance provider's stock worth $678,116,000 after acquiring an additional 18,555 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Selective Insurance Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider's stock worth $636,065,000 after acquiring an additional 41,639 shares in the last quarter. FMR LLC lifted its stake in shares of Selective Insurance Group by 11.5% in the third quarter. FMR LLC now owns 3,866,827 shares of the insurance provider's stock worth $398,941,000 after acquiring an additional 398,517 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Selective Insurance Group by 3.2% in the second quarter. Macquarie Group Ltd. now owns 2,752,581 shares of the insurance provider's stock worth $239,309,000 after acquiring an additional 84,594 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Selective Insurance Group by 1.7% in the first quarter. State Street Corp now owns 2,138,623 shares of the insurance provider's stock worth $203,875,000 after acquiring an additional 36,024 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Insider Activity

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares of the company's stock, valued at $1,112,904.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI traded down $1.92 on Thursday, reaching $102.15. 207,557 shares of the company traded hands, compared to its average volume of 310,846. Selective Insurance Group, Inc. has a fifty-two week low of $91.99 and a fifty-two week high of $109.58. The company's 50 day moving average is $103.44 and its 200-day moving average is $102.96. The stock has a market capitalization of $6.21 billion, a PE ratio of 17.52, a P/E/G ratio of 0.76 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. As a group, analysts anticipate that Selective Insurance Group, Inc. will post 7.68 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.37%. Selective Insurance Group's payout ratio is currently 24.01%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SIGI. Keefe, Bruyette & Woods cut their price objective on Selective Insurance Group from $111.00 to $109.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada cut their price objective on Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating on the stock in a research note on Friday, February 2nd. Oppenheimer restated an "outperform" rating and set a $120.00 price objective on shares of Selective Insurance Group in a research note on Friday, April 5th. Finally, Piper Sandler reiterated a "neutral" rating and set a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of "Hold" and a consensus target price of $105.17.

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.