Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Selective Insurance Group (NASDAQ:SIGI) by 13.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,046 shares of the insurance provider’s stock after buying an additional 1,619 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Selective Insurance Group were worth $892,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in SIGI. McQueen Ball & Associates Inc. bought a new position in Selective Insurance Group in the 3rd quarter valued at about $219,000. Private Advisor Group LLC bought a new position in Selective Insurance Group in the 3rd quarter valued at about $276,000. Campbell & CO Investment Adviser LLC bought a new position in Selective Insurance Group in the 3rd quarter valued at about $305,000. Ramsey Quantitative Systems grew its position in Selective Insurance Group by 26.1% in the 3rd quarter. Ramsey Quantitative Systems now owns 6,229 shares of the insurance provider’s stock valued at $396,000 after buying an additional 1,290 shares in the last quarter. Finally, Neuburgh Advisers LLC grew its position in Selective Insurance Group by 10.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 9,418 shares of the insurance provider’s stock valued at $518,000 after buying an additional 884 shares in the last quarter. Hedge funds and other institutional investors own 77.86% of the company’s stock.
In other Selective Insurance Group news, Director Paul D. Bauer sold 2,500 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $64.40, for a total value of $161,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.99 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million. On average, equities research analysts forecast that Selective Insurance Group will post 3.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 14th. Selective Insurance Group’s dividend payout ratio is presently 25.72%.
A number of equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. JMP Securities assumed coverage on shares of Selective Insurance Group in a research report on Friday, November 16th. They issued a “market perform” rating for the company. Zacks Investment Research reiterated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, November 15th. Credit Suisse Group upped their price target on shares of Selective Insurance Group from $54.00 to $61.00 and gave the company a “sell” rating in a report on Wednesday, October 31st. Finally, ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $61.80.
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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.
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