First Trust Advisors LP Sells 96,600 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

First Trust Advisors LP decreased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 492,292 shares of the insurance provider's stock after selling 96,600 shares during the quarter. First Trust Advisors LP owned about 0.81% of Selective Insurance Group worth $46,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. R Squared Ltd bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at $25,000. UMB Bank n.a. grew its stake in Selective Insurance Group by 37.1% in the 4th 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 raised its position in shares of Selective Insurance Group by 957.1% during the 4th 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. GAMMA Investing LLC lifted its holdings in shares of Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock worth $45,000 after acquiring an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new stake in Selective Insurance Group during the fourth quarter valued at about $180,000. Institutional investors own 82.88% of the company's stock.

Selective Insurance Group Trading Down 1.9 %

Shares of Selective Insurance Group stock traded down $1.69 during trading on Friday, reaching $87.57. 336,242 shares of the stock were exchanged, compared to its average volume of 385,089. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 27.20 and a beta of 0.45. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year high of $103.60. The stock's fifty day moving average is $86.97 and its 200 day moving average is $91.32.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.13). The business 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%. During the same quarter last year, the business posted $1.33 EPS. As a group, equities research analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group's payout ratio is currently 41.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SIGI shares. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley lowered their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $95.17.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,352 shares of the 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.