Vanguard Group Inc. Raises Stake in Selective Insurance Group (SIGI)

Vanguard Group Inc. lifted its position in Selective Insurance Group (NASDAQ:SIGI) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,848,362 shares of the insurance provider’s stock after acquiring an additional 105,870 shares during the quarter. Vanguard Group Inc. owned 9.93% of Selective Insurance Group worth $371,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Selective Insurance Group by 3.5% during the 3rd quarter. BlackRock Inc. now owns 8,434,767 shares of the insurance provider’s stock valued at $535,608,000 after purchasing an additional 284,094 shares during the period. Macquarie Group Ltd. boosted its position in Selective Insurance Group by 8.9% during the 3rd quarter. Macquarie Group Ltd. now owns 3,091,575 shares of the insurance provider’s stock valued at $196,315,000 after purchasing an additional 253,124 shares during the period. Matarin Capital Management LLC acquired a new position in Selective Insurance Group during the 3rd quarter valued at approximately $11,526,000. Morgan Stanley boosted its position in Selective Insurance Group by 75.1% during the 3rd quarter. Morgan Stanley now owns 262,022 shares of the insurance provider’s stock valued at $16,638,000 after purchasing an additional 112,412 shares during the period. Finally, Man Group plc boosted its position in Selective Insurance Group by 913.1% during the 3rd quarter. Man Group plc now owns 76,263 shares of the insurance provider’s stock valued at $4,843,000 after purchasing an additional 68,735 shares during the period. Institutional investors own 78.42% of the company’s stock.

In other Selective Insurance Group news, Director Paul D. Bauer sold 2,500 shares of Selective Insurance Group stock in a transaction on Friday, November 16th. The stock was sold at an average price of $64.40, for a total transaction of $161,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Shares of Selective Insurance Group stock opened at $60.04 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.90 and a beta of 1.09. Selective Insurance Group has a 1-year low of $53.55 and a 1-year high of $67.17.

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

A number of research analysts recently issued reports on the company. BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. ValuEngine downgraded Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Credit Suisse Group lifted their target price on Selective Insurance Group from $54.00 to $61.00 and gave the company a “sell” rating in a research note on Wednesday, October 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research note on Monday, October 29th. Finally, Zacks Investment Research downgraded Selective Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.40.

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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.

Featured Article: Net Asset Value

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

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