Dana Investment Advisors Inc. Sells 5,435 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Dana Investment Advisors Inc. decreased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,466 shares of the insurance provider's stock after selling 5,435 shares during the period. Dana Investment Advisors Inc. owned 0.16% of Selective Insurance Group worth $8,834,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SIGI. Barclays PLC increased its position in shares of Selective Insurance Group by 171.6% during the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock valued at $10,711,000 after acquiring an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Selective Insurance Group by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock valued at $37,801,000 after purchasing an additional 7,563 shares during the period. Quest Partners LLC increased its position in shares of Selective Insurance Group by 2,486.8% during the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider's stock valued at $712,000 after purchasing an additional 7,336 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Selective Insurance Group by 38.4% during 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider's stock worth $80,956,000 after purchasing an additional 21,374 shares during the period. Institutional investors own 82.88% of the company's stock.

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Selective Insurance Group Stock Performance

Shares of NASDAQ SIGI traded down $0.80 during midday trading on Friday, hitting $85.10. The company's stock had a trading volume of 343,712 shares, compared to its average volume of 356,708. The stock has a fifty day moving average price of $87.78 and a 200 day moving average price of $92.00. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 26.43 and a beta of 0.54. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. 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 (NASDAQ:SIGI - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. On average, research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.79%. Selective Insurance Group's dividend payout ratio (DPR) is 47.20%.

Analyst Upgrades and Downgrades

SIGI has been the subject of several research reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Selective Insurance Group has an average rating of "Hold" and an average price target of $98.71.

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.