Dana Investment Advisors Inc. Sells 5,435 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Dana Investment Advisors Inc. cut its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,466 shares of the insurance provider’s stock after selling 5,435 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.16% of Selective Insurance Group worth $8,834,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. FMR LLC increased its holdings in Selective Insurance Group by 28.6% during the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after buying an additional 1,216,801 shares during the last quarter. State Street Corp grew its position in shares of Selective Insurance Group by 3.1% during the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock valued at $224,097,000 after acquiring an additional 71,296 shares during the period. Geode Capital Management LLC grew its position in shares of Selective Insurance Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock valued at $148,048,000 after acquiring an additional 26,880 shares during the period. Boston Trust Walden Corp increased its stake in shares of Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock worth $98,694,000 after purchasing an additional 84,341 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Selective Insurance Group by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider’s stock worth $82,693,000 after purchasing an additional 16,539 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SIGI. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $93.00 price objective (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 lowered their price objective on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $85.04 on Thursday. Selective Insurance Group, Inc. has a 52-week low of $78.13 and a 52-week high of $109.58. The business’s fifty day moving average is $88.34 and its 200 day moving average is $92.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 26.41 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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%. Research analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, February 14th. Selective Insurance Group’s dividend payout ratio is presently 47.20%.

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.