UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,748 shares of the insurance provider's stock after selling 5,898 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.30% of Selective Insurance Group worth $16,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SIGI. FMR LLC lifted its stake in Selective Insurance Group by 28.6% in the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock worth $510,239,000 after purchasing an additional 1,216,801 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Selective Insurance Group by 112.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider's stock worth $42,667,000 after purchasing an additional 226,387 shares in the last quarter. Emerald Advisers LLC purchased a new stake in shares of Selective Insurance Group during the 3rd quarter valued at $11,767,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Selective Insurance Group by 16.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 717,946 shares of the insurance provider's stock valued at $66,984,000 after buying an additional 101,045 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Selective Insurance Group by 319.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 129,184 shares of the insurance provider's stock valued at $12,053,000 after buying an additional 98,390 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Anthony D. Harnett sold 1,404 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the sale, the chief accounting officer now owns 15,946 shares of the company's stock, valued at $1,476,759.06. The trade was a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company's stock.

Selective Insurance Group Trading Down 0.5 %

NASDAQ:SIGI traded down $0.47 during trading hours on Friday, reaching $98.73. The company's stock had a trading volume of 214,417 shares, compared to its average volume of 345,881. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 26.61 and a beta of 0.60. The firm has a 50-day simple moving average of $96.15 and a 200-day simple moving average of $93.02. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (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 the consensus estimate of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. Selective Insurance Group's revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $1.51 EPS. Research analysts expect that Selective Insurance Group, Inc. will post 3.59 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.54%. Selective Insurance Group's payout ratio is presently 40.97%.

Wall Street Analyst Weigh In

SIGI has been the topic of several research reports. Bank of America raised their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, Morgan Stanley initiated coverage on shares of Selective Insurance Group in a research report on Thursday. They set an "equal weight" rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $102.14.

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.