Prudential Financial Inc. Has $7.39 Million Holdings in Selective Insurance Group (SIGI)

Prudential Financial Inc. lessened its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 12.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 121,307 shares of the insurance provider’s stock after selling 17,330 shares during the period. Prudential Financial Inc. owned 0.21% of Selective Insurance Group worth $7,393,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SIGI. Csenge Advisory Group acquired a new stake in Selective Insurance Group during the 3rd quarter worth $56,000. Private Capital Group LLC grew its holdings in Selective Insurance Group by 55.5% during the 4th quarter. Private Capital Group LLC now owns 1,056 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 377 shares during the period. First Quadrant L P CA acquired a new stake in Selective Insurance Group during the 4th quarter worth $108,000. FMR LLC acquired a new stake in Selective Insurance Group during the 3rd quarter worth $114,000. Finally, Paloma Partners Management Co acquired a new stake in Selective Insurance Group during the 3rd quarter worth $213,000. 80.19% of the stock is owned by hedge funds and other institutional investors.

Get Selective Insurance Group alerts:

A number of research firms have commented on SIGI. BidaskClub raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. ValuEngine cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday. JMP Securities started coverage on shares of Selective Insurance Group in a research report on Friday, November 16th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, February 6th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $64.25.

In related news, Director Paul D. Bauer sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $66.28, for a total value of $662,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory E. Murphy sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $66.25, for a total transaction of $331,250.00. The disclosure for this sale can be found here. Insiders sold a total of 18,614 shares of company stock worth $1,233,550 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Shares of NASDAQ SIGI opened at $63.44 on Friday. The firm has a market cap of $3.74 billion, a PE ratio of 17.33, a PEG ratio of 1.25 and a beta of 0.90. Selective Insurance Group has a twelve month low of $53.55 and a twelve month high of $67.72. The company has a current ratio of 0.31, a quick ratio of 0.33 and a debt-to-equity ratio of 0.25.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, January 31st. The insurance provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.26. The company had revenue of $680.90 million for the quarter, compared to analysts’ expectations of $661.70 million. Selective Insurance Group had a net margin of 6.92% and a return on equity of 12.69%. As a group, equities analysts anticipate that Selective Insurance Group will post 4.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Selective Insurance Group’s dividend payout ratio is 21.86%.

COPYRIGHT VIOLATION WARNING: “Prudential Financial Inc. Has $7.39 Million Holdings in Selective Insurance Group (SIGI)” was first published by Ticker Report and is owned by of Ticker Report. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/4208290/prudential-financial-inc-has-7-39-million-holdings-in-selective-insurance-group-sigi.html.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) 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.

See Also: Index Funds

Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group (NASDAQ:SIGI).