Geode Capital Management LLC Sells 16,898 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Geode Capital Management LLC cut its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,569,629 shares of the insurance provider's stock after selling 16,898 shares during the quarter. Geode Capital Management LLC owned approximately 2.58% of Selective Insurance Group worth $146,822,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors increased its position in shares of Selective Insurance Group by 82.2% during the 3rd quarter. Captrust Financial Advisors now owns 5,897 shares of the insurance provider's stock valued at $550,000 after purchasing an additional 2,661 shares during the last quarter. HighTower Advisors LLC raised its position in Selective Insurance Group by 8.3% in the third quarter. HighTower Advisors LLC now owns 3,984 shares of the insurance provider's stock worth $376,000 after acquiring an additional 307 shares during the period. Quantinno Capital Management LP boosted its stake in Selective Insurance Group by 5.4% in the third quarter. Quantinno Capital Management LP now owns 10,729 shares of the insurance provider's stock valued at $1,001,000 after acquiring an additional 554 shares during the last quarter. State Street Corp increased its stake in shares of Selective Insurance Group by 3.1% during the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider's stock worth $224,097,000 after purchasing an additional 71,296 shares during the last quarter. Finally, First National Bank of Omaha lifted its stake in Selective Insurance Group by 2.4% in the third quarter. First National Bank of Omaha now owns 30,217 shares of the insurance provider's stock valued at $2,819,000 after purchasing an additional 705 shares during the last quarter. Institutional investors own 82.88% of the company's stock.

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Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock traded up $0.60 on Friday, reaching $86.63. The stock had a trading volume of 448,391 shares, compared to its average volume of 383,869. The business's 50 day moving average is $85.88 and its two-hundred day moving average is $91.53. The company has a market cap of $5.26 billion, a P/E ratio of 26.90 and a beta of 0.45. Selective Insurance Group, Inc. has a 1 year low of $78.13 and a 1 year 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.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly 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 net margin of 4.26% and a return on equity of 7.33%. As a group, research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. Selective Insurance Group's dividend payout ratio is currently 47.20%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SIGI shares. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley cut their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $95.17.

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.