Vanguard Group Inc. Has $265.09 Million Stake in Selective Insurance Group, Inc. (SIGI)

Vanguard Group Inc. grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,296,404 shares of the insurance provider’s stock after purchasing an additional 81,335 shares during the period. Vanguard Group Inc. owned about 9.07% of Selective Insurance Group worth $265,086,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SIGI. LS Investment Advisors LLC raised its holdings in shares of Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after purchasing an additional 106 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Selective Insurance Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 204 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Selective Insurance Group by 7.6% in the first quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock valued at $177,000 after purchasing an additional 265 shares during the last quarter. First Quadrant L P CA raised its holdings in shares of Selective Insurance Group by 560.9% in the second quarter. First Quadrant L P CA now owns 4,078 shares of the insurance provider’s stock valued at $204,000 after purchasing an additional 3,461 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Selective Insurance Group in the first quarter valued at about $205,000. Institutional investors own 77.73% of the company’s stock.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 2,483 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $50.46, for a total transaction of $125,292.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul D. Bauer sold 1,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.06, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,148 shares of company stock worth $210,141 in the last 90 days. Company insiders own 3.00% of the company’s stock.

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Shares of Selective Insurance Group, Inc. (SIGI) opened at 54.65 on Thursday. Selective Insurance Group, Inc. has a 12-month low of $34.95 and a 12-month high of $55.15. The company’s 50-day moving average is $51.61 and its 200-day moving average is $50.25. The stock has a market cap of $3.19 billion, a P/E ratio of 19.04 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.05). The company had revenue of $614.50 million for the quarter, compared to the consensus estimate of $611.62 million. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. Selective Insurance Group’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post $3.04 earnings per share for the current year.

Several analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 target price on shares of Selective Insurance Group in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Finally, ValuEngine downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.91.

Selective Insurance Group Profile

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

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

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