First Trust Advisors LP cut its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 43.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,099 shares of the insurance provider’s stock after selling 25,802 shares during the quarter. First Trust Advisors LP owned approximately 0.06% of Selective Insurance Group worth $1,707,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC increased its position in shares of Selective Insurance Group by 5.1% during the 2nd quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after purchasing an additional 106 shares during the last quarter. Tyers Asset Management LLC increased its position in shares of Selective Insurance Group by 2.8% during the 1st quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock valued at $116,000 after purchasing an additional 66 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of Selective Insurance Group by 2.8% during the 1st quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock valued at $148,000 after purchasing an additional 84 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Selective Insurance Group by 7.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock valued at $177,000 after purchasing an additional 265 shares during the last quarter. Finally, Neuburgh Advisers LLC increased its position in shares of Selective Insurance Group by 2.8% during the 1st quarter. Neuburgh Advisers LLC now owns 3,808 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 102 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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In related news, Director Paul D. Bauer sold 1,000 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Morrissey sold 2,483 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $50.46, for a total value of $125,292.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,148 shares of company stock valued at $210,141. 3.00% of the stock is owned by company insiders.

Several equities research analysts have recently issued reports on the company. BidaskClub raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 target price on shares of Selective Insurance Group in a research report on Wednesday, July 12th. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, July 27th. Zacks Investment Research lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, ValuEngine lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $47.73.

Shares of Selective Insurance Group, Inc. (SIGI) opened at 50.78 on Friday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 17.69 and a beta of 1.44. The company has a 50-day moving average price of $50.30 and a 200 day moving average price of $49.37. Selective Insurance Group, Inc. has a one year low of $34.95 and a one 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 analysts’ consensus estimates of $0.73 by ($0.05). The business had revenue of $614.50 million for the quarter, compared to the consensus estimate of $611.62 million. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts expect that Selective Insurance Group, Inc. will post $3.06 earnings per share for the current year.

The company 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, August 11th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.22%.

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.

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

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