Pitcairn Co. boosted its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,129 shares of the insurance provider’s stock after buying an additional 630 shares during the period. Pitcairn Co.’s holdings in Selective Insurance Group were worth $257,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in shares of Selective Insurance Group by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the insurance provider’s stock worth $1,117,000 after buying an additional 400 shares during the last quarter. Boston Advisors LLC increased its stake in shares of Selective Insurance Group by 26.7% in the first quarter. Boston Advisors LLC now owns 121,548 shares of the insurance provider’s stock worth $5,731,000 after buying an additional 25,600 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Selective Insurance Group by 3.0% in the first quarter. State of Alaska Department of Revenue now owns 6,450 shares of the insurance provider’s stock worth $304,000 after buying an additional 190 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Selective Insurance Group by 7.6% in the first quarter. Nationwide Fund Advisors now owns 114,349 shares of the insurance provider’s stock worth $5,392,000 after buying an additional 8,037 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management increased its stake in shares of Selective Insurance Group by 5.4% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 481,107 shares of the insurance provider’s stock worth $22,682,000 after buying an additional 24,435 shares during the last quarter. Hedge funds and other institutional investors own 76.78% of the company’s stock.

Shares of Selective Insurance Group, Inc. (NASDAQ SIGI) opened at 51.30 on Thursday. Selective Insurance Group, Inc. has a 1-year low of $34.95 and a 1-year high of $53.75. The stock has a 50 day moving average of $50.87 and a 200-day moving average of $48.44. The firm has a market capitalization of $2.99 billion, a P/E ratio of 17.87 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The firm had revenue of $614.50 million during the quarter, compared to analysts’ expectations of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, equities analysts expect that Selective Insurance Group, Inc. will post $3.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, August 11th. Selective Insurance Group’s dividend payout ratio is currently 22.22%.

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A number of equities research analysts have issued reports on SIGI shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 price objective on shares of Selective Insurance Group in a research note on Tuesday, May 2nd. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Zacks Investment Research downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $48.00 price target on shares of Selective Insurance Group in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $47.73.

In other Selective Insurance Group news, Director Paul D. Bauer sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.06, for a total value of $51,060.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory E. Murphy sold 8,789 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $49.80, for a total value of $437,692.20. The disclosure for this sale can be found here. Insiders sold 20,547 shares of company stock valued at $1,031,269 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

About Selective Insurance Group

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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