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

Dana Investment Advisors Inc. cut its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 5.4% in the 4th quarter, Holdings Channel reports. The fund owned 94,466 shares of the insurance provider’s stock after selling 5,435 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Selective Insurance Group were worth $8,834,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SIGI. FMR LLC lifted its stake 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 purchasing an additional 1,216,801 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Selective Insurance Group in the 3rd quarter worth approximately $37,726,000. Eagle Asset Management Inc. lifted its position in Selective Insurance Group by 112.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider’s stock worth $42,667,000 after buying an additional 226,387 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Selective Insurance Group in the fourth quarter worth approximately $203,000. Finally, Vaughan Nelson Investment Management L.P. grew its position in Selective Insurance Group by 15.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 828,327 shares of the insurance provider’s stock valued at $77,465,000 after acquiring an additional 110,381 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 0.8 %

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

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

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued 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 (DPR) is currently 47.20%.

Wall Street Analyst Weigh In

SIGI has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 price objective (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Morgan Stanley cut their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Company 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.