Brevan Howard Capital Management LP Sells 4,249 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Brevan Howard Capital Management LP lessened its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 33.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,598 shares of the insurance provider’s stock after selling 4,249 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Selective Insurance Group were worth $804,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Boston Trust Walden Corp lifted its holdings in shares of 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 period. Northern Trust Corp lifted its holdings in Selective Insurance Group by 9.3% during the 4th quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider’s stock valued at $98,396,000 after purchasing an additional 89,692 shares during the last quarter. Norges Bank bought a new position in Selective Insurance Group during the 4th quarter valued at about $93,409,000. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 16,539 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew 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 last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,388,258.76. The trade was a 7.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Selective Insurance Group Trading Up 0.1 %

Shares of SIGI opened at $89.83 on Friday. The stock’s fifty day simple moving average is $88.04 and its 200-day simple moving average is $90.86. 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 market capitalization of $5.46 billion, a PE ratio of 27.90 and a beta of 0.51. Selective Insurance Group, Inc. has a 12-month low of $78.13 and a 12-month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.10). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm posted $1.33 EPS. Selective Insurance Group’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, May 15th. Selective Insurance Group’s payout ratio is 41.42%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SIGI shares. Morgan Stanley reduced their target price on 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. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $93.00 to $92.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. Finally, BMO Capital Markets upped their price target on shares of Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $93.50.

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.