Bridgeway Capital Management Inc. Has $4.01 Million Holdings in Selective Insurance Group (SIGI)

Bridgeway Capital Management Inc. decreased its position in shares of Selective Insurance Group (NASDAQ:SIGI) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,200 shares of the insurance provider’s stock after selling 6,100 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in Selective Insurance Group were worth $4,013,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SIGI. Bank of Montreal Can acquired a new stake in shares of Selective Insurance Group during the 2nd quarter worth approximately $4,471,000. Piedmont Investment Advisors LLC grew its position in shares of Selective Insurance Group by 9.0% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 13,678 shares of the insurance provider’s stock worth $752,000 after buying an additional 1,128 shares during the period. IndexIQ Advisors LLC grew its position in shares of Selective Insurance Group by 7.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 36,037 shares of the insurance provider’s stock worth $1,982,000 after buying an additional 2,621 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Selective Insurance Group during the 2nd quarter worth approximately $683,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Selective Insurance Group during the 2nd quarter worth approximately $834,000. Hedge funds and other institutional investors own 77.86% of the company’s stock.

In related news, Director Paul D. Bauer sold 2,500 shares of Selective Insurance Group stock in a transaction on Friday, November 16th. The shares were sold at an average price of $64.40, for a total value of $161,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

NASDAQ SIGI opened at $66.37 on Friday. Selective Insurance Group has a 12-month low of $53.55 and a 12-month high of $67.17. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $3.84 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. Selective Insurance Group had a net margin of 6.34% and a return on equity of 11.62%. The business had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million. On average, sell-side analysts expect that Selective Insurance Group will post 3.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 15th will be given a $0.20 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.21%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.18. Selective Insurance Group’s dividend payout ratio (DPR) is presently 25.72%.

Several analysts have recently commented on SIGI shares. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. BidaskClub raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, November 15th. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Monday, October 29th. Finally, JMP Securities started coverage on shares of Selective Insurance Group in a research report on Friday, November 16th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $61.80.

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About Selective Insurance Group

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.

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

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