Port Capital LLC Sells 80,680 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Port Capital LLC lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 34.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,299 shares of the insurance provider's stock after selling 80,680 shares during the period. Port Capital LLC owned about 0.25% of Selective Insurance Group worth $14,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth $25,000. Quarry LP acquired a new position in Selective Insurance Group in the 4th quarter worth about $38,000. UMB Bank n.a. raised its holdings in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after buying an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after buying an additional 402 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in Selective Insurance Group during the fourth quarter valued at about $180,000. Institutional investors and hedge funds own 82.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SIGI. StockNews.com upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. BMO Capital Markets boosted their price target on Selective Insurance Group from $92.00 to $96.00 and gave the company an "outperform" rating in a research note 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 note on Monday. Finally, Keefe, Bruyette & Woods dropped their target price on 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. 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's stock. According to data from MarketBeat.com, Selective Insurance Group has a consensus rating of "Hold" and a consensus target price of $94.00.

Selective Insurance Group Price Performance

Shares of SIGI traded down $0.45 during mid-day trading on Tuesday, reaching $89.22. The company had a trading volume of 72,818 shares, compared to its average volume of 385,102. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve 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 company's 50-day moving average is $88.62 and its 200-day moving average is $90.68. The company has a market capitalization of $5.42 billion, a P/E ratio of 27.72 and a beta of 0.51.

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

Selective Insurance Group Dividend Announcement

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

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 on Friday, April 25th. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.