Thrivent Financial for Lutherans Lowers Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Thrivent Financial for Lutherans reduced its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 43.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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’ holdings in Selective Insurance Group were worth $8,299,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SIGI. R Squared Ltd purchased a new position in Selective Insurance Group during the 4th quarter valued at about $25,000. UMB Bank n.a. lifted its position in Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Selective Insurance Group by 957.1% during the 4th 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 lifted its position in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 190 shares during the period. Finally, Roxbury Financial LLC purchased a new position in Selective Insurance Group during the 4th quarter valued at about $180,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SIGI. Morgan Stanley decreased their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Down 0.4 %

SIGI opened at $88.71 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $86.81 and a 200-day moving average price of $91.79. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $109.58. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 27.55 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last released 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%. Equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. Selective Insurance Group’s payout ratio is 47.20%.

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.