Massachusetts Financial Services Co. MA Sells 1,805 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Massachusetts Financial Services Co. MA lowered its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 385,231 shares of the insurance provider’s stock after selling 1,805 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Selective Insurance Group were worth $36,027,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp increased its holdings in Selective Insurance Group by 3.1% during the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock valued at $224,097,000 after buying an additional 71,296 shares during the period. Geode Capital Management LLC raised its position in shares of Selective Insurance Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $148,048,000 after acquiring an additional 26,880 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock worth $98,694,000 after purchasing an additional 84,341 shares during the last quarter. Norges Bank bought a new stake in Selective Insurance Group during the fourth quarter valued at about $93,409,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Selective Insurance Group by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider’s stock valued at $82,693,000 after purchasing an additional 16,539 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

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

Selective Insurance Group Trading Down 7.0 %

NASDAQ:SIGI opened at $86.33 on Friday. 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 has a fifty day simple moving average of $86.33 and a 200-day simple moving average of $91.85. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $105.86. The company has a market capitalization of $5.25 billion, a P/E ratio of 26.81 and a beta of 0.45.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results 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%. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced 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. This represents a $1.52 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 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.