Arizona State Retirement System continued to hold its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,335 shares of the insurance provider’s stock at the end of the second quarter. Arizona State Retirement System owned 0.05% of Selective Insurance Group worth $1,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake 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 worth $109,000 after buying an additional 106 shares during the period. Tyers Asset Management LLC boosted its stake 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 worth $116,000 after buying an additional 66 shares during the period. Whittier Trust Co. purchased a new stake in shares of Selective Insurance Group during the first quarter worth about $144,000. Flinton Capital Management LLC boosted its stake 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 worth $148,000 after buying an additional 84 shares during the period. Finally, Victory Capital Management Inc. boosted its stake 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 worth $177,000 after buying an additional 265 shares during the period. 76.78% of the stock is owned by hedge funds and other institutional investors.

Shares of Selective Insurance Group, Inc. (NASDAQ SIGI) opened at 50.85 on Friday. Selective Insurance Group, Inc. has a 52-week low of $34.95 and a 52-week high of $53.75. The firm has a market capitalization of $2.97 billion, a PE ratio of 17.71 and a beta of 1.44. The firm’s 50-day moving average price is $50.88 and its 200-day moving average price is $48.76.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data 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. The firm had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. On average, equities analysts predict that Selective Insurance Group, Inc. will post $3.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, August 11th. Selective Insurance Group’s payout ratio is 22.22%.

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A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods set a $48.00 target price on Selective Insurance Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research cut Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 price objective on shares of Selective Insurance Group in a research report on Friday, July 28th. Finally, ValuEngine cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $47.73.

In other news, Director Paul D. Bauer sold 1,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.06, for a total transaction of $51,060.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory E. Murphy sold 8,789 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $49.80, for a total transaction of $437,692.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,272 shares of company stock valued at $614,044. Company insiders own 3.00% of the company’s stock.

Selective Insurance Group Company 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.

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

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