Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Holdings Cut by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 939,441 shares of the insurance provider's stock after selling 241,912 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.55% of Selective Insurance Group worth $87,857,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Pinebridge Investments L.P. grew its position in Selective Insurance Group by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 38,177 shares of the insurance provider's stock worth $3,570,000 after buying an additional 11,422 shares during the period. Dark Forest Capital Management LP grew its position in shares of Selective Insurance Group by 574.7% in the fourth quarter. Dark Forest Capital Management LP now owns 18,757 shares of the insurance provider's stock valued at $1,754,000 after purchasing an additional 15,977 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Selective Insurance Group by 142.2% during the fourth quarter. Hsbc Holdings PLC now owns 9,902 shares of the insurance provider's stock valued at $928,000 after buying an additional 5,814 shares during the period. Stifel Financial Corp lifted its stake in shares of Selective Insurance Group by 1.2% during the fourth quarter. Stifel Financial Corp now owns 31,911 shares of the insurance provider's stock valued at $2,984,000 after buying an additional 373 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Selective Insurance Group by 440.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,064 shares of the insurance provider's stock valued at $661,000 after buying an additional 5,758 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Selective Insurance Group Stock Down 0.4 %

NASDAQ SIGI traded down $0.36 on Thursday, hitting $86.87. 80,213 shares of the stock traded hands, compared to its average volume of 384,168. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $87.47 and a 200 day moving average of $91.22. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $103.60. The company has a market capitalization of $5.28 billion, a P/E ratio of 26.92 and a beta of 0.45.

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

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, May 15th. Selective Insurance Group's dividend payout ratio is presently 41.42%.

Wall Street Analyst Weigh In

SIGI has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets raised 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. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.50.

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.