Mutual of America Capital Management LLC Sells 13,332 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Mutual of America Capital Management LLC reduced its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,949 shares of the insurance provider’s stock after selling 13,332 shares during the period. Mutual of America Capital Management LLC’s holdings in Selective Insurance Group were worth $14,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Proficio Capital Partners LLC bought a new position in Selective Insurance Group in the fourth quarter worth approximately $203,000. Bank of New York Mellon Corp lifted its holdings in shares of Selective Insurance Group by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 582,140 shares of the insurance provider’s stock worth $54,442,000 after buying an additional 20,576 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Selective Insurance Group by 70.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,292 shares of the insurance provider’s stock worth $401,000 after buying an additional 1,778 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Selective Insurance Group by 107.2% during the fourth quarter. Private Advisor Group LLC now owns 10,071 shares of the insurance provider’s stock valued at $942,000 after buying an additional 5,211 shares during the period. Finally, Peregrine Capital Management LLC raised its holdings in shares of Selective Insurance Group by 42.8% in the fourth quarter. Peregrine Capital Management LLC now owns 63,950 shares of the insurance provider’s stock valued at $5,981,000 after acquiring an additional 19,159 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Up 1.9 %

NASDAQ SIGI opened at $86.04 on Friday. Selective Insurance Group, Inc. has a 52 week low of $78.13 and a 52 week high of $109.58. The company has a 50 day moving average price of $88.79 and a 200 day moving average price of $92.05. 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 cap of $5.23 billion, a PE ratio of 26.72 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

Wall Street Analysts Forecast Growth

SIGI has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Finally, Morgan Stanley cut their price objective on shares of 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. One research 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. Based on data from MarketBeat, Selective Insurance Group has an average rating of “Hold” and a consensus target price of $98.71.

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.