Thrivent Financial for Lutherans Sells 66,819 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Thrivent Financial for Lutherans lowered its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 43.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 88,746 shares of the insurance provider's stock after selling 66,819 shares during the period. Thrivent Financial for Lutherans owned approximately 0.15% of Selective Insurance Group worth $8,299,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its position in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock worth $40,000 after purchasing an additional 116 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Selective Insurance Group by 0.7% in the fourth quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock worth $1,649,000 after buying an additional 123 shares during the last quarter. Pacer Advisors Inc. grew its position in Selective Insurance Group by 1.5% during the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider's stock valued at $847,000 after buying an additional 137 shares during the period. Caprock Group LLC increased its holdings in Selective Insurance Group by 3.8% during the fourth quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider's stock valued at $369,000 after buying an additional 145 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Selective Insurance Group by 3.1% during the third quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider's stock valued at $476,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

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Selective Insurance Group Price Performance

Shares of SIGI stock traded up $0.55 during trading hours on Wednesday, hitting $90.18. The stock had a trading volume of 450,099 shares, compared to its average volume of 359,332. The stock's 50-day moving average price is $86.73 and its two-hundred day moving average price is $91.80. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 28.01 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

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%. Equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

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

Analysts Set New Price Targets

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