Mountain Pacific Investment Advisers LLC Sells 946 Shares of Selective Insurance Group, Inc. $SIGI

Mountain Pacific Investment Advisers LLC trimmed its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,052 shares of the insurance provider’s stock after selling 946 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Selective Insurance Group were worth $698,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SIGI. AQR Capital Management LLC boosted its stake in shares of Selective Insurance Group by 561.6% in the first quarter. AQR Capital Management LLC now owns 580,274 shares of the insurance provider’s stock valued at $53,118,000 after buying an additional 492,568 shares during the period. Nuveen LLC bought a new position in Selective Insurance Group during the 1st quarter worth $36,943,000. Vaughan Nelson Investment Management L.P. raised its holdings in Selective Insurance Group by 36.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider’s stock valued at $103,280,000 after acquiring an additional 299,925 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Selective Insurance Group by 273.5% during the 1st quarter. MetLife Investment Management LLC now owns 261,165 shares of the insurance provider’s stock valued at $23,907,000 after acquiring an additional 191,237 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Selective Insurance Group by 58.7% during the 1st quarter. Millennium Management LLC now owns 475,313 shares of the insurance provider’s stock worth $43,510,000 after purchasing an additional 175,725 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $81.28 on Thursday. The stock has a 50-day moving average price of $78.45 and a two-hundred day moving average price of $84.56. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $103.56. The company has a market capitalization of $4.95 billion, a PE ratio of 13.30 and a beta of 0.39. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same period in the prior year, the company earned ($1.10) EPS. Analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.9%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.88%.

Analyst Ratings Changes

A number of research firms recently commented on SIGI. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Morgan Stanley lowered shares of Selective Insurance Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $86.00 to $72.00 in a report on Tuesday, August 5th. Keefe, Bruyette & Woods cut their price target on shares of Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating for the company in a report on Monday, July 28th. Finally, Piper Sandler reduced their price target on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $87.33.

Insider Activity

In related news, Director Robert Kelly Doherty bought 1,500 shares of the business’s stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $77.00 per share, with a total value of $115,500.00. Following the acquisition, the director owned 27,110 shares of the company’s stock, valued at $2,087,470. This represents a 5.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of Selective Insurance Group stock in a transaction on Friday, July 25th. The stock was bought at an average price of $75.72 per share, for a total transaction of $151,440.00. Following the transaction, the director directly owned 25,295 shares in the company, valued at approximately $1,915,337.40. The trade was a 8.59% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,602 shares of company stock valued at $817,440. 1.50% of the stock is currently owned by company insiders.

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.