SG Americas Securities LLC lifted its holdings in Selective Insurance Group (NASDAQ:SIGI) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,411 shares of the insurance provider’s stock after purchasing an additional 5,676 shares during the quarter. SG Americas Securities LLC owned 0.08% of Selective Insurance Group worth $3,401,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in Selective Insurance Group by 442.7% during the first quarter. Quadrant Capital Group LLC now owns 1,118 shares of the insurance provider’s stock worth $67,000 after buying an additional 912 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Selective Insurance Group during the first quarter worth $106,000. Cambria Investment Management L.P. acquired a new position in Selective Insurance Group during the first quarter worth $147,000. Steward Partners Investment Advisory LLC acquired a new position in Selective Insurance Group during the second quarter worth $184,000. Finally, EP Wealth Advisors LLC acquired a new position in Selective Insurance Group during the first quarter worth $202,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:SIGI opened at $79.01 on Wednesday. Selective Insurance Group has a one year low of $56.22 and a one year high of $80.83. The firm has a market capitalization of $4.76 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.74 and a beta of 0.86. The company has a fifty day moving average of $76.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.10. Selective Insurance Group had a net margin of 8.65% and a return on equity of 13.53%. The firm had revenue of $708.20 million for the quarter, compared to the consensus estimate of $707.83 million. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Selective Insurance Group will post 4.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. Selective Insurance Group’s dividend payout ratio is currently 21.86%.
In other Selective Insurance Group news, Director William M. Rue sold 7,795 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $77.64, for a total value of $605,203.80. Following the transaction, the director now directly owns 337,804 shares in the company, valued at $26,227,102.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.
SIGI has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. BidaskClub upgraded shares of Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $65.33.
Selective Insurance Group 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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