Natixis Advisors LLC Sells 14,266 Shares of Selective Insurance Group, Inc. $SIGI

Natixis Advisors LLC decreased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 187,468 shares of the insurance provider’s stock after selling 14,266 shares during the period. Natixis Advisors LLC’s holdings in Selective Insurance Group were worth $15,686,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SIGI. AQR Capital Management LLC raised its position in shares of Selective Insurance Group by 174.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,593,645 shares of the insurance provider’s stock valued at $137,340,000 after acquiring an additional 1,013,371 shares during the last quarter. Norges Bank bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at $65,625,000. American Century Companies Inc. raised its position in shares of Selective Insurance Group by 1,299.9% during the 3rd quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after acquiring an additional 280,395 shares during the last quarter. First Trust Advisors LP raised its position in shares of Selective Insurance Group by 657.3% during the 3rd quarter. First Trust Advisors LP now owns 305,629 shares of the insurance provider’s stock valued at $24,777,000 after acquiring an additional 265,270 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Selective Insurance Group by 40.0% during the 2nd quarter. Bank of America Corp DE now owns 725,980 shares of the insurance provider’s stock valued at $62,906,000 after acquiring an additional 207,258 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Price Performance

SIGI stock opened at $88.59 on Friday. The stock has a 50-day moving average price of $83.43 and a two-hundred day moving average price of $82.39. The stock has a market cap of $5.30 billion, a PE ratio of 12.12 and a beta of 0.32. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a 1 year low of $71.75 and a 1 year high of $91.65.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.Selective Insurance Group’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $1.76 EPS. Equities analysts forecast that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, May 15th. Selective Insurance Group’s dividend payout ratio is 23.53%.

Analysts Set New Price Targets

SIGI has been the subject of several research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Selective Insurance Group in a report on Monday, March 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $84.00 to $97.00 in a report on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Oppenheimer increased their target price on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and an average price target of $91.67.

Selective Insurance Group Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.