Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 387,036 shares of the insurance provider's stock after selling 10,901 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.64% of Selective Insurance Group worth $36,110,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC boosted its position in Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock worth $30,000 after acquiring an additional 145 shares during the last quarter. Lindenwold Advisors INC grew its position in shares of Selective Insurance Group by 5.4% in the third quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider's stock valued at $277,000 after purchasing an additional 153 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Selective Insurance Group by 2.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider's stock valued at $705,000 after purchasing an additional 205 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Selective Insurance Group by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider's stock worth $446,000 after buying an additional 216 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Selective Insurance Group by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider's stock valued at $1,262,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

Analyst Upgrades and Downgrades

SIGI has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $101.67.

Insider Activity

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares of the company's stock, valued at approximately $1,476,759.06. The trade was a 8.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company's stock.

Selective Insurance Group Stock Performance

SIGI traded up $1.13 on Monday, hitting $98.95. 151,566 shares of the company traded hands, compared to its average volume of 354,870. The stock has a market capitalization of $6.02 billion, a PE ratio of 26.37 and a beta of 0.57. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $94.41 and a 200-day moving average of $92.78. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.29). The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. Selective Insurance Group's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 3.59 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, November 15th. This is an increase from Selective Insurance Group's previous quarterly dividend of $0.35. Selective Insurance Group's dividend payout ratio is 40.97%.

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.