Alliancebernstein L.P. Cuts Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Alliancebernstein L.P. lowered its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,880 shares of the insurance provider's stock after selling 3,537 shares during the quarter. Alliancebernstein L.P. owned about 0.21% of Selective Insurance Group worth $12,053,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SIGI. R Squared Ltd purchased a new position in shares of Selective Insurance Group in the 4th quarter valued at approximately $25,000. UMB Bank n.a. grew its position 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 valued at $40,000 after buying an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Selective Insurance Group by 957.1% in 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 during the period. GAMMA Investing LLC raised its position in 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 buying an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Selective Insurance Group in the 4th quarter worth $180,000. Institutional investors and hedge funds own 82.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley decreased 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 note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $95.17.

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Selective Insurance Group Price Performance

Shares of SIGI stock traded up $2.01 during mid-day trading on Tuesday, reaching $89.95. The stock had a trading volume of 73,296 shares, compared to its average volume of 383,206. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $104.67. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $85.93 and a 200 day simple moving average of $91.51. The company has a market cap of $5.47 billion, a P/E ratio of 27.93 and a beta of 0.45.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (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%. On average, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's dividend payout ratio is currently 47.20%.

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.