Zacks Investment Management lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,669 shares of the insurance provider’s stock after purchasing an additional 4,782 shares during the period. Zacks Investment Management owned 0.13% of Selective Insurance Group worth $3,737,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SIGI. BlackRock Inc. boosted its position in shares of Selective Insurance Group by 54,172.3% during the 1st quarter. BlackRock Inc. now owns 7,425,534 shares of the insurance provider’s stock valued at $350,112,000 after purchasing an additional 7,411,852 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Selective Insurance Group by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 5,215,069 shares of the insurance provider’s stock valued at $245,891,000 after purchasing an additional 317,023 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Selective Insurance Group by 269.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 432,294 shares of the insurance provider’s stock valued at $20,383,000 after purchasing an additional 315,138 shares in the last quarter. Northern Trust Corp boosted its position in shares of Selective Insurance Group by 16.2% during the 2nd quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock valued at $68,044,000 after purchasing an additional 189,401 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Selective Insurance Group by 19.6% during the 1st quarter. Bank of America Corp DE now owns 845,897 shares of the insurance provider’s stock valued at $39,884,000 after purchasing an additional 138,779 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

Selective Insurance Group, Inc. (NASDAQ:SIGI) traded down 0.38% on Thursday, reaching $52.50. The company had a trading volume of 7,887 shares. Selective Insurance Group, Inc. has a one year low of $34.95 and a one year high of $53.75. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 18.29 and a beta of 1.44. The company’s 50 day moving average is $50.39 and its 200-day moving average is $49.57.

Selective Insurance Group (NASDAQ:SIGI) last posted 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 business had revenue of $614.50 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts expect that Selective Insurance Group, Inc. will post $3.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. Selective Insurance Group’s payout ratio is presently 22.22%.

In other Selective Insurance Group news, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction that occurred 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 SEC, which is available through this hyperlink. Also, Director Michael J. Morrissey sold 665 shares of Selective Insurance Group stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.81, for a total value of $33,788.65. Following the sale, the director now directly owns 15,177 shares in the company, valued at $771,143.37. The disclosure for this sale can be found here. Insiders sold 4,148 shares of company stock worth $210,141 over the last three months. 3.00% of the stock is owned by insiders.

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Several equities research analysts recently commented on SIGI shares. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub upgraded Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $48.00 target price 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 issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.73.

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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