D.A. Davidson & CO. Sells 196 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

D.A. Davidson & CO. lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,930 shares of the insurance provider’s stock after selling 196 shares during the quarter. D.A. Davidson & CO.’s holdings in Selective Insurance Group were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SIGI. Allspring Global Investments Holdings LLC increased its holdings in shares of Selective Insurance Group by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider’s stock worth $1,415,000 after buying an additional 277 shares during the period. Private Advisor Group LLC grew its position in Selective Insurance Group by 8.4% during the 3rd quarter. Private Advisor Group LLC now owns 4,860 shares of the insurance provider’s stock worth $453,000 after acquiring an additional 377 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Selective Insurance Group by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,022 shares of the insurance provider’s stock worth $655,000 after purchasing an additional 475 shares during the period. US Bancorp DE lifted its position in Selective Insurance Group by 15.0% in the third quarter. US Bancorp DE now owns 22,150 shares of the insurance provider’s stock valued at $2,067,000 after purchasing an additional 2,896 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Selective Insurance Group by 10.2% during the third quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider’s stock valued at $16,770,000 after purchasing an additional 16,689 shares during the period. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Trading Down 1.4 %

Shares of SIGI opened at $81.87 on Thursday. Selective Insurance Group, Inc. has a 1-year low of $78.13 and a 1-year high of $109.58. 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 firm’s 50-day moving average price is $88.97 and its 200-day moving average price is $92.10. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 25.43 and a beta of 0.61.

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

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.86%. Selective Insurance Group’s dividend payout ratio is presently 47.20%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley decreased their price objective on shares of 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 reiterated 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, BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.71.

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.