Shelton Capital Management bought a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,782 shares of the insurance provider’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. LS Investment Advisors LLC raised its position in Selective Insurance Group by 5.1% during the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 106 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Selective Insurance Group by 8.8% during 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 during the last quarter. Victory Capital Management Inc. raised its position in Selective Insurance Group by 7.6% during 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 during the last quarter. Advisor Group Inc. raised its position in Selective Insurance Group by 41.3% during the second quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock worth $182,000 after acquiring an additional 1,061 shares during the last quarter. Finally, First Quadrant L P CA raised its position in Selective Insurance Group by 560.9% during the second quarter. First Quadrant L P CA now owns 4,078 shares of the insurance provider’s stock worth $204,000 after acquiring an additional 3,461 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

A number of brokerages have issued reports on SIGI. Keefe, Bruyette & Woods set a $48.00 target price on shares of Selective Insurance Group and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Royal Bank Of Canada restated a “hold” rating and set a $50.00 target price on shares of Selective Insurance Group in a research report on Tuesday, October 3rd. BidaskClub cut shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Selective Insurance Group has an average rating of “Hold” and a consensus price target of $46.91.

Selective Insurance Group, Inc. (SIGI) opened at 54.95 on Friday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 19.14 and a beta of 1.44. Selective Insurance Group, Inc. has a 52-week low of $34.95 and a 52-week high of $55.15. The stock has a 50 day moving average of $51.87 and a 200-day moving average of $50.36.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.05). Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The business had revenue of $614.50 million for the quarter, compared to the consensus estimate of $611.62 million. During the same quarter last year, the business posted $0.74 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts expect that Selective Insurance Group, Inc. will post $3.01 EPS for the current year.

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In other Selective Insurance Group news, Director Michael J. Morrissey sold 2,483 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $50.46, for a total value of $125,292.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of the firm’s stock in a transaction dated 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. Over the last quarter, insiders sold 4,148 shares of company stock valued at $210,141. 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.

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

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