Mountain Pacific Investment Advisers LLC Has $942,000 Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Mountain Pacific Investment Advisers LLC reduced its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 4.9% during the fourth quarter, HoldingsChannel reports. The firm owned 10,077 shares of the insurance provider’s stock after selling 520 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Selective Insurance Group were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in Selective Insurance Group by 28.6% during the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after acquiring an additional 1,216,801 shares during the period. State Street Corp increased its holdings in Selective Insurance Group by 3.1% in the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock worth $224,097,000 after purchasing an additional 71,296 shares in the last quarter. Geode Capital Management LLC lifted its stake in Selective Insurance Group by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock valued at $148,048,000 after buying an additional 26,880 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock worth $80,956,000 after buying an additional 21,374 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Selective Insurance Group by 16.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 717,946 shares of the insurance provider’s stock worth $66,984,000 after buying an additional 101,045 shares during the period. Institutional investors own 82.88% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Selective Insurance Group Stock Down 1.0 %

SIGI stock opened at $93.28 on Tuesday. The firm has a market capitalization of $5.67 billion, a PE ratio of 25.14 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58. The stock’s 50 day moving average is $95.80 and its 200-day moving average is $93.00.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts expect that Selective Insurance Group, Inc. will post 3.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SIGI has been the topic of a number of research reports. Morgan Stanley assumed coverage on shares of Selective Insurance Group in a research report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Bank of America boosted their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.57.

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.