First Trust Advisors LP Lowers Stake in Selective Insurance Group (SIGI)

First Trust Advisors LP decreased its position in shares of Selective Insurance Group (NASDAQ:SIGI) by 34.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,378 shares of the insurance provider’s stock after selling 11,721 shares during the period. First Trust Advisors LP’s holdings in Selective Insurance Group were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. LS Investment Advisors LLC lifted its position in Selective Insurance Group by 5.1% during the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 106 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Selective Insurance Group by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after acquiring an additional 23 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Selective Insurance Group by 8.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 204 shares during the last quarter. Advisor Group Inc. lifted its position in Selective Insurance Group by 41.3% during the second quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Selective Insurance Group during the second quarter valued at approximately $199,000. 77.86% of the stock is owned by institutional investors.

Shares of Selective Insurance Group (NASDAQ SIGI) opened at $61.00 on Friday. The company has a market cap of $3,573.55, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.63 and a beta of 1.45. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a 52-week low of $38.50 and a 52-week high of $62.40.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.10. The company had revenue of $621.30 million for the quarter, compared to analyst estimates of $625.80 million. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.00%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. equities analysts expect that Selective Insurance Group will post 3.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.18%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, November 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 23.92%.

A number of brokerages have issued reports on SIGI. Keefe, Bruyette & Woods set a $55.00 price target on shares of Selective Insurance Group and gave the company a “hold” rating in a research note on Sunday, October 29th. Royal Bank Of Canada restated a “hold” rating and set a $55.00 price target on shares of Selective Insurance Group in a research note on Friday, October 27th. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research note on Friday, October 27th. Zacks Investment Research lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 14th. Finally, BidaskClub upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.91.

In other Selective Insurance Group news, Director John Burville sold 1,000 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $58.76, for a total transaction of $58,760.00. Following the transaction, the director now directly owns 82,898 shares of the company’s stock, valued at $4,871,086.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Morrissey sold 1,875 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $61.47, for a total transaction of $115,256.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,375 shares of company stock worth $2,740,784. Insiders own 3.00% of the company’s stock.

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About Selective Insurance Group

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.

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

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