Invesco Ltd. Sells 26,700 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Invesco Ltd. decreased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 327,079 shares of the insurance provider’s stock after selling 26,700 shares during the period. Invesco Ltd.’s holdings in Selective Insurance Group were worth $30,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Selective Insurance Group in the 4th quarter valued at approximately $93,409,000. Raymond James Financial Inc. purchased a new stake in Selective Insurance Group during the 4th quarter valued at $69,504,000. Proficio Capital Partners LLC bought a new stake in Selective Insurance Group in the fourth quarter worth $203,000. Vaughan Nelson Investment Management L.P. boosted its stake in Selective Insurance Group by 15.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider’s stock worth $77,465,000 after buying an additional 110,381 shares during the period. Finally, Boston Trust Walden Corp increased its position in Selective Insurance Group by 8.7% during the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock valued at $98,694,000 after acquiring an additional 84,341 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

Selective Insurance Group stock opened at $89.66 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $104.67. The company has a market capitalization of $5.45 billion, a PE ratio of 27.84 and a beta of 0.45. The company has a 50 day moving average price of $86.16 and a 200-day moving average price of $91.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI) last issued its 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 return on equity of 7.33% and a net margin of 4.26%. As a group, equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

Analysts Set New Price Targets

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

Selective Insurance Group 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.