Pitcairn Co. Has $910,000 Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Pitcairn Co. lowered its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,338 shares of the insurance provider’s stock after selling 227 shares during the period. Pitcairn Co.’s holdings in Selective Insurance Group were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Selective Insurance Group by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock worth $717,735,000 after purchasing an additional 367,987 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Selective Insurance Group by 188.2% during the 4th quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock worth $144,287,000 after purchasing an additional 947,147 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Selective Insurance Group by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock worth $118,420,000 after purchasing an additional 149,901 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Selective Insurance Group by 1.8% during the 4th quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock worth $97,791,000 after purchasing an additional 17,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Selective Insurance Group by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,919 shares of the insurance provider’s stock worth $80,770,000 after purchasing an additional 17,657 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SIGI. Royal Bank of Canada cut their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research report on Monday. Keefe, Bruyette & Woods upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $104.00 to $99.00 in a research report on Monday. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. BMO Capital Markets raised their target price on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday. 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’s stock. According to data from MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $98.67.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, Director Terrence W. Cavanaugh bought 2,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $85.85 per share, with a total value of $171,700.00. Following the completion of the purchase, the director now owns 20,651 shares in the company, valued at $1,772,888.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Selective Insurance Group news, Director Terrence W. Cavanaugh bought 2,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $85.85 per share, with a total value of $171,700.00. Following the completion of the purchase, the director now owns 20,651 shares in the company, valued at $1,772,888.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John J. Marchioni purchased 2,400 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was purchased at an average price of $83.56 per share, for a total transaction of $200,544.00. Following the completion of the acquisition, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Selective Insurance Group Trading Up 1.4 %

Shares of Selective Insurance Group stock traded up $1.19 during trading on Thursday, reaching $88.85. 995,254 shares of the company were exchanged, compared to its average volume of 345,286. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The business has a 50-day moving average price of $93.74 and a 200-day moving average price of $99.46. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 1.07 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). Selective Insurance Group had a return on equity of 8.80% and a net margin of 5.12%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm earned $0.99 earnings per share. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 5.01 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.58%. Selective Insurance Group’s payout ratio is 24.74%.

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.