Mutual of America Capital Management LLC Cuts Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Mutual of America Capital Management LLC lessened its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,949 shares of the insurance provider’s stock after selling 13,332 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.26% of Selective Insurance Group worth $14,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC lifted its stake in Selective Insurance Group by 171.6% in the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock worth $10,711,000 after purchasing an additional 72,530 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Selective Insurance Group by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider’s stock worth $37,801,000 after purchasing an additional 7,563 shares during the last quarter. Quest Partners LLC lifted its position in shares of Selective Insurance Group by 2,486.8% in the third quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock worth $712,000 after buying an additional 7,336 shares in the last quarter. Franklin Resources Inc. boosted its stake in Selective Insurance Group by 38.4% during the third quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock valued at $603,000 after buying an additional 1,747 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after buying an additional 21,374 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, Morgan Stanley lowered their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Trading Up 1.9 %

SIGI stock opened at $86.04 on Friday. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $109.58. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 26.72 and a beta of 0.61. 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’s fifty day simple moving average is $88.79 and its two-hundred day simple moving average is $92.05.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. As a group, analysts anticipate 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 will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. Selective Insurance Group’s payout ratio is 47.20%.

About Selective Insurance Group

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.