Selective Insurance Group, Inc. (SIGI) Stake Lessened by Systematic Financial Management LP

Systematic Financial Management LP cut its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 551,145 shares of the insurance provider’s stock after selling 42,717 shares during the quarter. Systematic Financial Management LP owned approximately 0.94% of Selective Insurance Group worth $27,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LS Investment Advisors LLC raised its position 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 period. Tyers Asset Management LLC raised its position in shares of Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 66 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 period. Flinton Capital Management LLC raised its position in shares of Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock valued at $148,000 after purchasing an additional 84 shares during the period. Finally, Victory Capital Management Inc. raised its position 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 period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

A number of analysts recently weighed in on SIGI shares. BidaskClub raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods set a $48.00 price target on shares of Selective Insurance Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Selective Insurance Group has an average rating of “Hold” and a consensus price target of $47.73.

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In other Selective Insurance Group news, Director Michael J. Morrissey sold 2,483 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $50.46, for a total value of $125,292.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael J. Morrissey sold 665 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.81, for a total value of $33,788.65. Following the completion of the sale, the director now owns 15,177 shares in the company, valued at approximately $771,143.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,148 shares of company stock worth $210,141. Insiders own 3.00% of the company’s stock.

Shares of Selective Insurance Group, Inc. (SIGI) opened at 52.20 on Friday. The stock has a 50 day moving average of $50.39 and a 200-day moving average of $49.57. The stock has a market cap of $3.05 billion, a PE ratio of 18.18 and a beta of 1.44. Selective Insurance Group, Inc. has a 52 week low of $34.95 and a 52 week high of $53.75.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a $0.16 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.64 annualized dividend and a yield of 1.23%. Selective Insurance Group’s dividend payout ratio is presently 22.22%.

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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