Steward Partners Investment Advisory LLC bought a new position in Selective Insurance Group (NASDAQ:SIGI) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,462 shares of the insurance provider’s stock, valued at approximately $184,000.

A number of other hedge funds have also recently modified their holdings of SIGI. State of Alaska Department of Revenue raised its stake in Selective Insurance Group by 0.9% during the first quarter. State of Alaska Department of Revenue now owns 19,875 shares of the insurance provider’s stock worth $1,257,000 after acquiring an additional 185 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Selective Insurance Group by 4.7% during the second quarter. Crossmark Global Holdings Inc. now owns 5,480 shares of the insurance provider’s stock worth $410,000 after acquiring an additional 247 shares in the last quarter. Arizona State Retirement System raised its stake in Selective Insurance Group by 0.3% during the first quarter. Arizona State Retirement System now owns 90,965 shares of the insurance provider’s stock worth $5,756,000 after acquiring an additional 277 shares in the last quarter. First National Bank of Omaha raised its stake in Selective Insurance Group by 0.8% during the first quarter. First National Bank of Omaha now owns 41,159 shares of the insurance provider’s stock worth $2,605,000 after acquiring an additional 311 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Selective Insurance Group by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 23,208 shares of the insurance provider’s stock worth $1,738,000 after acquiring an additional 400 shares in the last quarter. 78.06% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on SIGI shares. BidaskClub upgraded Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. ValuEngine lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.33.

In related news, Director William M. Rue sold 7,795 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $77.64, for a total value of $605,203.80. Following the transaction, the director now owns 337,804 shares in the company, valued at $26,227,102.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

Shares of NASDAQ:SIGI opened at $80.04 on Wednesday. Selective Insurance Group has a twelve month low of $56.22 and a twelve month high of $80.83. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a fifty day simple moving average of $76.74.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.10. The company had revenue of $708.20 million during the quarter, compared to analyst estimates of $707.83 million. Selective Insurance Group had a return on equity of 13.53% and a net margin of 8.65%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. On average, analysts predict that Selective Insurance Group will post 4.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, August 14th. Selective Insurance Group’s dividend payout ratio is 21.86%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus 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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Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group (NASDAQ:SIGI).

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

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