Franklin Resources Inc. Sells 273,354 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Franklin Resources Inc. decreased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGIGet Rating) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,052,262 shares of the insurance provider’s stock after selling 273,354 shares during the period. Franklin Resources Inc. owned 1.74% of Selective Insurance Group worth $91,484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SIGI. Lord Abbett & CO. LLC bought a new position in shares of Selective Insurance Group in the 1st quarter valued at about $50,975,000. Eaton Vance Management lifted its holdings in shares of Selective Insurance Group by 27.0% in the 1st quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider’s stock valued at $89,256,000 after acquiring an additional 212,085 shares during the last quarter. State Street Corp lifted its holdings in shares of Selective Insurance Group by 6.2% in the 1st quarter. State Street Corp now owns 2,002,044 shares of the insurance provider’s stock valued at $178,903,000 after acquiring an additional 116,106 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Selective Insurance Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,745,697 shares of the insurance provider’s stock valued at $513,435,000 after acquiring an additional 74,813 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Selective Insurance Group by 25.9% in the 2nd quarter. Principal Financial Group Inc. now owns 272,347 shares of the insurance provider’s stock valued at $23,678,000 after acquiring an additional 55,964 shares during the last quarter. Institutional investors own 83.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SIGI has been the subject of a number of analyst reports. StockNews.com began coverage on shares of Selective Insurance Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Janney Montgomery Scott began coverage on shares of Selective Insurance Group in a research note on Friday, November 11th. They issued a “neutral” rating and a $96.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Selective Insurance Group from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday.

Insider Transactions at Selective Insurance Group

In other news, Director J Brian Thebault sold 3,269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $93.28, for a total transaction of $304,932.32. Following the transaction, the director now directly owns 51,500 shares of the company’s stock, valued at $4,803,920. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Selective Insurance Group Stock Up 0.5 %

Shares of NASDAQ SIGI opened at $94.49 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $5.70 billion, a P/E ratio of 25.20, a PEG ratio of 2.85 and a beta of 0.62. Selective Insurance Group, Inc. has a 1 year low of $66.81 and a 1 year high of $98.80. The firm has a 50-day simple moving average of $88.88 and a two-hundred day simple moving average of $83.28.

Selective Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. Selective Insurance Group’s dividend payout ratio (DPR) is 32.00%.

About Selective Insurance Group

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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, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and 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, as well as flood insurance products.

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

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