Mountain Pacific Investment Advisers Inc. ID Lowers Stock Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Mountain Pacific Investment Advisers Inc. ID cut its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,066 shares of the insurance provider’s stock after selling 309 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in Selective Insurance Group were worth $1,101,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its position in Selective Insurance Group by 1.1% during the fourth quarter. California Public Employees Retirement System now owns 323,998 shares of the insurance provider’s stock worth $32,231,000 after acquiring an additional 3,469 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in Selective Insurance Group by 102.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 15,233 shares of the insurance provider’s stock worth $1,515,000 after acquiring an additional 7,724 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Selective Insurance Group by 10.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,980 shares of the insurance provider’s stock worth $1,391,000 after acquiring an additional 1,289 shares during the period. Strs Ohio raised its position in Selective Insurance Group by 8.2% during the fourth quarter. Strs Ohio now owns 71,200 shares of the insurance provider’s stock worth $7,082,000 after acquiring an additional 5,400 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in Selective Insurance Group during the fourth quarter worth $1,691,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now directly owns 10,511 shares in the company, valued at $1,112,904.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SIGI has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and set a $120.00 price objective on shares of Selective Insurance Group in a research report on Friday, April 5th. Piper Sandler reiterated a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Royal Bank of Canada reduced their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $105.17.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI opened at $100.13 on Friday. The firm has a 50-day simple moving average of $103.65 and a 200-day simple moving average of $102.75. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.74 and a beta of 0.55. 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 52 week low of $91.99 and a 52 week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. On average, equities analysts predict that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, February 14th. Selective Insurance Group’s payout ratio is currently 24.01%.

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.