Price T Rowe Associates Inc. MD Sells 22,974 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Price T Rowe Associates Inc. MD trimmed its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 36.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,622 shares of the insurance provider's stock after selling 22,974 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of Selective Insurance Group worth $3,799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Trust Walden Corp boosted its position in shares of Selective Insurance Group by 8.7% during the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock worth $98,694,000 after acquiring an additional 84,341 shares during the last quarter. Norges Bank bought a new position in shares of Selective Insurance Group during the 4th quarter valued at about $93,409,000. Charles Schwab Investment Management Inc. grew its position in shares of Selective Insurance Group by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock valued at $82,693,000 after purchasing an additional 16,539 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Selective Insurance Group by 15.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider's stock worth $77,465,000 after purchasing an additional 110,381 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Selective Insurance Group in the fourth quarter worth about $69,504,000. Institutional investors own 82.88% of the company's stock.

Insider Activity at Selective Insurance Group

In other 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 transaction of $117,705.12. Following the transaction, the chief accounting officer now owns 15,946 shares of the company's stock, valued at approximately $1,388,258.76. This represents a 7.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group Trading Up 0.9 %

Shares of SIGI opened at $87.68 on Monday. The company's fifty day simple moving average is $87.69 and its 200-day simple moving average is $91.00. The company has a market cap of $5.33 billion, a P/E ratio of 27.23 and a beta of 0.51. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56.

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 for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. As a group, analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is currently 41.42%.

Analysts Set New Price Targets

A number of analysts have issued reports on SIGI shares. BMO Capital Markets lifted their price objective on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Finally, Morgan Stanley decreased their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $93.50.

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.

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