Mountain Pacific Investment Advisers Inc. ID Sells 309 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Mountain Pacific Investment Advisers Inc. ID trimmed its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Selective Insurance Group by 68.9% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Headinvest LLC bought a new stake in Selective Insurance Group in the 3rd quarter valued at $62,000. Morton Brown Family Wealth LLC bought a new stake in Selective Insurance Group in the 4th quarter valued at $82,000. Fifth Third Bancorp increased its holdings in Selective Insurance Group by 12.3% in the 3rd quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider’s stock valued at $121,000 after acquiring an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Selective Insurance Group by 15.3% in the 3rd quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider’s stock valued at $177,000 after acquiring an additional 228 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI opened at $100.13 on Friday. Selective Insurance Group, Inc. has a 52 week low of $91.99 and a 52 week high of $109.58. The stock has a market capitalization of $6.09 billion, a P/E ratio of 17.17, a PEG ratio of 0.74 and a beta of 0.55. The firm has a fifty day simple moving average of $103.65 and a two-hundred day simple moving average of $102.75. 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 (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates 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, analysts expect that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

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

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group 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 transaction, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

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.