Fmr LLC Sells 3,420 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

FMR LLC lessened its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,465,381 shares of the insurance provider's stock after selling 3,420 shares during the period. FMR LLC owned 8.99% of Selective Insurance Group worth $511,122,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Barclays PLC lifted its position 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 buying an additional 72,530 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Selective Insurance Group by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock valued at $37,801,000 after buying an additional 7,563 shares in the last quarter. Franklin Resources Inc. raised its position in Selective Insurance Group by 38.4% during the third 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 in the last quarter. HighTower Advisors LLC increased its position in shares of Selective Insurance Group by 8.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider's stock valued at $376,000 after purchasing an additional 307 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of Selective Insurance Group by 51.9% during the third quarter. Sanctuary Advisors LLC now owns 4,211 shares of the insurance provider's stock worth $412,000 after acquiring an additional 1,438 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts have recently commented on the company. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $93.00 price objective (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.17.

Selective Insurance Group Stock Performance

Shares of SIGI stock traded up $1.34 during mid-day trading on Tuesday, reaching $89.28. 98,334 shares of the company's stock traded hands, compared to its average volume of 383,319. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $5.43 billion, a PE ratio of 27.71 and a beta of 0.45. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $104.67. The firm has a 50 day moving average price of $85.93 and a two-hundred day moving average price of $91.51.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing the consensus estimate 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 year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's payout ratio is 47.20%.

About Selective Insurance Group

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.