Selective Insurance Group, Inc. (NASDAQ:SIGI) Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,949 shares of the insurance provider's stock after selling 13,332 shares during the quarter. Mutual of America Capital Management LLC owned about 0.26% of Selective Insurance Group worth $14,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in Selective Insurance Group by 28.6% during the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock valued at $510,239,000 after buying an additional 1,216,801 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Selective Insurance Group in the 3rd quarter worth approximately $37,726,000. Eagle Asset Management Inc. boosted its holdings in shares of Selective Insurance Group by 112.7% in the third quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider's stock valued at $42,667,000 after acquiring an additional 226,387 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Selective Insurance Group during the fourth quarter valued at approximately $203,000. Finally, Emerald Advisers LLC bought a new stake in Selective Insurance Group during the third quarter worth approximately $11,767,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Trading Down 1.6 %

Shares of NASDAQ:SIGI traded down $1.38 during midday trading on Tuesday, reaching $85.81. The company had a trading volume of 292,010 shares, compared to its average volume of 353,969. The company has a fifty day simple moving average of $88.52 and a two-hundred day simple moving average of $92.12. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 26.78 and a beta of 0.61. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34.

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Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results 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 return on equity of 7.33% and a net margin of 4.26%. Research analysts predict that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, February 14th. Selective Insurance Group's dividend payout ratio (DPR) is currently 47.20%.

Wall Street Analysts Forecast Growth

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

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.