Silvercrest Asset Management Group LLC Decreases Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Silvercrest Asset Management Group LLC trimmed its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,763 shares of the insurance provider's stock after selling 18,905 shares during the period. Silvercrest Asset Management Group LLC owned about 0.48% of Selective Insurance Group worth $27,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after purchasing an additional 72,530 shares during the period. Franklin Resources Inc. lifted its stake in shares of Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock valued at $603,000 after purchasing an additional 1,747 shares during the period. UMB Bank n.a. boosted 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 worth $40,000 after buying an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position 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 during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Selective Insurance Group by 4.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 19,782 shares of the insurance provider's stock valued at $1,850,000 after buying an additional 800 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Price Performance

SIGI stock traded down $0.46 during trading on Thursday, hitting $86.78. The stock had a trading volume of 60,142 shares, compared to its average volume of 385,317. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.56. The stock has a market capitalization of $5.27 billion, a P/E ratio of 26.93 and a beta of 0.51. The company's 50-day moving average price is $88.68 and its two-hundred day moving average price is $90.65.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate 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 net margin of 4.26% and a return on equity of 7.33%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 EPS. As a group, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

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 issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. Selective Insurance Group's payout ratio is currently 41.42%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SIGI shares. BMO Capital Markets increased their target price on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods reduced their price target 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. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley lifted their price target on shares of Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday. One equities 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 company. According to data from MarketBeat.com, Selective Insurance Group currently has an average rating of "Hold" and an average price target of $94.00.

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the completion of the sale, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,388,258.76. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

Selective Insurance Group 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.