Legal & General Group Plc Sells 995 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Legal & General Group Plc lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,947 shares of the insurance provider’s stock after selling 995 shares during the quarter. Legal & General Group Plc owned approximately 0.21% of Selective Insurance Group worth $12,153,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SIGI. R Squared Ltd bought a new stake in Selective Insurance Group in the fourth quarter valued at approximately $25,000. UMB Bank n.a. lifted its holdings in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 402 shares during the period. GAMMA Investing LLC increased its holdings in shares of Selective Insurance Group by 64.4% in the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 190 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth about $180,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $93.00 price objective (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, Morgan Stanley cut 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.17.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $88.90 on Thursday. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $104.67. The company’s fifty day simple moving average is $86.06 and its 200-day simple moving average is $91.47. The firm has a market cap of $5.40 billion, a PE ratio of 27.61 and a beta of 0.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

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

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 1.71%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

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.