Landsberg Bennett & Dubbaneh LLC trimmed its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,509 shares of the insurance provider’s stock after selling 174 shares during the quarter. Landsberg Bennett & Dubbaneh LLC owned approximately 0.05% of Selective Insurance Group worth $2,423,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Selective Insurance Group by 2.0% during the second quarter. BlackRock Inc. now owns 8,547,451 shares of the insurance provider’s stock valued at $640,118,000 after buying an additional 168,925 shares during the period. Vanguard Group Inc. grew its position in Selective Insurance Group by 1.1% during the second quarter. Vanguard Group Inc. now owns 6,108,078 shares of the insurance provider’s stock valued at $457,433,000 after buying an additional 63,672 shares during the period. Invesco Ltd. grew its position in Selective Insurance Group by 3.3% during the second quarter. Invesco Ltd. now owns 643,171 shares of the insurance provider’s stock valued at $48,167,000 after buying an additional 20,668 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in Selective Insurance Group by 264.0% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 501,841 shares of the insurance provider’s stock valued at $37,583,000 after buying an additional 363,956 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Selective Insurance Group by 0.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 457,764 shares of the insurance provider’s stock worth $34,282,000 after purchasing an additional 1,446 shares during the period. Institutional investors own 79.02% of the company’s stock.
In other Selective Insurance Group news, Director William M. Rue sold 7,795 shares of the company’s stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Shares of SIGI traded down $0.22 during mid-day trading on Friday, reaching $74.64. The stock had a trading volume of 16,123 shares, compared to its average volume of 874,577. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.61 and a beta of 0.79. Selective Insurance Group has a 12 month low of $56.22 and a 12 month high of $81.35. The business has a fifty day moving average of $76.73 and a 200 day moving average of $73.89. 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 posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.10. The business had revenue of $708.20 million during the quarter, compared to analyst estimates of $707.83 million. Selective Insurance Group had a net margin of 8.65% and a return on equity of 13.53%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, research analysts forecast that Selective Insurance Group will post 4.35 EPS for the current fiscal year.
A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. ValuEngine lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Buckingham Research upped their price target on shares of Selective Insurance Group from $73.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $69.67.
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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