Principal Financial Group Inc. lessened its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 488,625 shares of the insurance provider’s stock after selling 3,417 shares during the quarter. Principal Financial Group Inc. owned 0.84% of Selective Insurance Group worth $26,313,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its stake in Selective Insurance Group by 0.3% during the 2nd quarter. BlackRock Inc. now owns 7,444,606 shares of the insurance provider’s stock valued at $372,603,000 after purchasing an additional 19,072 shares in the last quarter. Vanguard Group Inc. increased its stake in Selective Insurance Group by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,296,404 shares of the insurance provider’s stock valued at $265,086,000 after purchasing an additional 81,335 shares in the last quarter. State Street Corp increased its stake in Selective Insurance Group by 3.9% during the 2nd quarter. State Street Corp now owns 1,414,041 shares of the insurance provider’s stock valued at $70,766,000 after purchasing an additional 53,087 shares in the last quarter. Northern Trust Corp increased its stake in Selective Insurance Group by 16.2% during the 2nd quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock valued at $68,044,000 after purchasing an additional 189,401 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Selective Insurance Group by 130.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 995,781 shares of the insurance provider’s stock valued at $49,838,000 after purchasing an additional 563,487 shares in the last quarter. Institutional investors and hedge funds own 76.19% of the company’s stock.

Selective Insurance Group, Inc. (NASDAQ SIGI) opened at $59.25 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market cap of $3,439.25, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. Selective Insurance Group, Inc. has a fifty-two week low of $38.50 and a fifty-two week high of $60.50.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.10. The firm had revenue of $621.30 million for the quarter, compared to the consensus estimate of $625.80 million. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.00%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. sell-side analysts anticipate that Selective Insurance Group, Inc. will post 3.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, November 14th. Selective Insurance Group’s payout ratio is currently 23.92%.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 665 shares of Selective Insurance Group stock in a transaction on Friday, September 1st. The shares were sold at an average price of $50.81, for a total transaction of $33,788.65. Following the transaction, the director now directly owns 15,177 shares of the company’s stock, valued at approximately $771,143.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Burville sold 600 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $59.10, for a total transaction of $35,460.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,265 shares of company stock worth $892,469 over the last ninety days. Insiders own 3.00% of the company’s stock.

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SIGI has been the subject of a number of recent research reports. BidaskClub lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. ValuEngine lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Royal Bank Of Canada restated a “hold” rating and set a $50.00 price target on shares of Selective Insurance Group in a research note on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $49.91.

Selective Insurance Group Profile

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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