Selective Insurance Group (SIGI) Position Trimmed by Prospector Partners LLC
Prospector Partners LLC lowered its stake in Selective Insurance Group (NASDAQ:SIGI) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,100 shares of the insurance provider’s stock after selling 2,600 shares during the period. Selective Insurance Group accounts for approximately 1.4% of Prospector Partners LLC’s holdings, making the stock its 22nd biggest holding. Prospector Partners LLC owned 0.29% of Selective Insurance Group worth $9,268,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC grew its stake in shares of Selective Insurance Group by 5.1% during the 2nd 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. Public Employees Retirement System of Ohio boosted its stake in Selective Insurance Group by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 23 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Selective Insurance Group by 8.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 204 shares during the period. Advisor Group Inc. boosted its stake in Selective Insurance Group by 41.3% in the 2nd quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock worth $182,000 after purchasing an additional 1,061 shares during the period. Finally, Eqis Capital Management Inc. bought a new position in Selective Insurance Group in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 77.83% of the company’s stock.
In related news, Director Paul D. Bauer sold 28,840 shares of Selective Insurance Group stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $61.14, for a total transaction of $1,763,277.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Burville sold 1,000 shares of Selective Insurance Group stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $58.76, for a total value of $58,760.00. Following the transaction, the director now owns 82,898 shares in the company, valued at approximately $4,871,086.48. The disclosure for this sale can be found here. Insiders sold 45,375 shares of company stock worth $2,740,784 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
SIGI has been the topic of several recent research reports. BidaskClub upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods set a $48.00 price objective on Selective Insurance Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $50.00 price objective on shares of Selective Insurance Group in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.91.
Shares of Selective Insurance Group (NASDAQ SIGI) traded down $0.20 on Thursday, reaching $59.65. The company’s stock had a trading volume of 94,100 shares, compared to its average volume of 219,057. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. Selective Insurance Group has a one year low of $38.50 and a one year high of $62.40. The firm has a market capitalization of $3,494.73, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.59 and a beta of 1.45.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The company had revenue of $621.30 million for the quarter, compared to analyst estimates of $625.80 million. During the same period last year, the company earned $0.66 earnings per share. Selective Insurance Group’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts anticipate that Selective Insurance Group will post 3.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.21%. Selective Insurance Group’s payout ratio is currently 23.92%.
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.
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