Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 141,165 shares of the insurance provider’s stock after selling 1,202 shares during the period. Principal Financial Group Inc.’s holdings in Selective Insurance Group were worth $13,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SIGI. Allworth Financial LP raised its holdings in shares of Selective Insurance Group by 1,517.8% during the fourth quarter. Allworth Financial LP now owns 3,187 shares of the insurance provider’s stock valued at $300,000 after acquiring an additional 2,990 shares during the period. Legacy Capital Wealth Partners LLC raised its holdings in shares of Selective Insurance Group by 13.3% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,496 shares of the insurance provider’s stock valued at $233,000 after acquiring an additional 293 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Selective Insurance Group during the fourth quarter valued at approximately $180,000. Rhumbline Advisers raised its holdings in shares of Selective Insurance Group by 3.0% during the fourth quarter. Rhumbline Advisers now owns 224,920 shares of the insurance provider’s stock valued at $21,034,000 after acquiring an additional 6,575 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Selective Insurance Group by 27.0% during the fourth quarter. Van ECK Associates Corp now owns 44,146 shares of the insurance provider’s stock valued at $4,129,000 after acquiring an additional 9,387 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 1.4 %

Selective Insurance Group stock opened at $81.87 on Thursday. The firm has a market cap of $4.98 billion, a PE ratio of 25.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50 day moving average price is $88.97 and its two-hundred day moving average price is $92.10. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its 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 return on equity of 7.33% and a net margin of 4.26%. On average, research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SIGI. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley cut 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. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $98.71.

About Selective Insurance Group

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.