Systematic Financial Management LP trimmed its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 551,145 shares of the insurance provider’s stock after selling 42,717 shares during the quarter. Systematic Financial Management LP owned about 0.94% of Selective Insurance Group worth $27,585,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SIGI. LS Investment Advisors LLC increased its holdings in shares of Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 106 shares during the last quarter. Tyers Asset Management LLC grew its position in Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock worth $116,000 after acquiring an additional 66 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Selective Insurance Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 204 shares in the last quarter. Flinton Capital Management LLC grew its position in Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock worth $148,000 after acquiring an additional 84 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Selective Insurance Group by 7.6% in the first quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock worth $177,000 after acquiring an additional 265 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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Selective Insurance Group, Inc. (NASDAQ:SIGI) traded up 0.86% on Friday, reaching $47.10. The company had a trading volume of 20,281 shares. The company’s 50-day moving average price is $50.45 and its 200 day moving average price is $49.19. The firm has a market capitalization of $2.75 billion, a P/E ratio of 16.41 and a beta of 1.44. Selective Insurance Group, Inc. has a 1-year low of $34.95 and a 1-year high of $53.75.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.05. The firm had revenue of $614.50 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS. On average, equities analysts forecast that Selective Insurance Group, Inc. will post $3.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.37%. Selective Insurance Group’s payout ratio is currently 22.22%.

Several research analysts recently commented on the company. BidaskClub upgraded Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price target on shares of Selective Insurance Group in a research report on Wednesday, July 12th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $47.73.

In other news, Director Michael J. Morrissey sold 2,483 shares of Selective Insurance Group stock in a transaction on Friday, July 28th. The shares were sold at an average price of $50.46, for a total transaction of $125,292.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.06, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,148 shares of company stock valued at $210,141 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

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.

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

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