Principal Financial Group Inc. Trims Stake in Selective Insurance Group (NASDAQ:SIGI)

Principal Financial Group Inc. cut its position in Selective Insurance Group (NASDAQ:SIGI) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,571 shares of the insurance provider’s stock after selling 5,550 shares during the period. Principal Financial Group Inc.’s holdings in Selective Insurance Group were worth $30,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its position in Selective Insurance Group by 224.1% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 457 shares of the insurance provider’s stock valued at $28,000 after buying an additional 316 shares during the last quarter. Sageworth Trust Co purchased a new position in shares of Selective Insurance Group during the 1st quarter valued at approximately $33,000. Quadrant Capital Group LLC boosted its stake in shares of Selective Insurance Group by 442.7% during the 1st quarter. Quadrant Capital Group LLC now owns 1,118 shares of the insurance provider’s stock valued at $67,000 after buying an additional 912 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in shares of Selective Insurance Group during the 4th quarter valued at approximately $101,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter valued at approximately $106,000. Institutional investors own 78.71% of the company’s stock.

Several equities analysts have recently commented on the company. BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. ValuEngine cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.33.

SIGI stock opened at $75.49 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.45 billion, a P/E ratio of 20.63, a PEG ratio of 1.70 and a beta of 0.92. Selective Insurance Group has a 12-month low of $54.70 and a 12-month high of $76.04.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $697.30 million. Selective Insurance Group had a net margin of 8.32% and a return on equity of 13.72%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Sell-side analysts expect that Selective Insurance Group will post 4.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio is presently 21.86%.

In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 11,775 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $70.93, for a total value of $835,200.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Cynthia S. Nicholson sold 1,468 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $71.11, for a total value of $104,389.48. Following the transaction, the director now directly owns 19,859 shares in the company, valued at $1,412,173.49. The disclosure for this sale can be found here. Insiders sold 20,189 shares of company stock worth $1,432,062 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

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About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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