Selective Insurance Group, Inc. (SIGI) Shares Bought by Texas Permanent School Fund

Texas Permanent School Fund increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 42,527 shares of the insurance provider’s stock after buying an additional 387 shares during the period. Texas Permanent School Fund’s holdings in Selective Insurance Group were worth $2,128,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake 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 valued at $109,000 after buying an additional 106 shares during the period. Tyers Asset Management LLC raised its stake in shares of 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 valued at $116,000 after buying an additional 66 shares during the period. Whittier Trust Co. bought a new stake in shares of Selective Insurance Group during the first quarter valued at about $144,000. Flinton Capital Management LLC raised its stake in shares of 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 valued at $148,000 after buying an additional 84 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of 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 valued at $177,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 77.58% of the company’s stock.

Selective Insurance Group, Inc. (SIGI) opened at 51.15 on Friday. Selective Insurance Group, Inc. has a 52-week low of $34.95 and a 52-week high of $53.75. The firm has a 50-day moving average price of $50.75 and a 200 day moving average price of $48.16. The firm has a market capitalization of $2.99 billion, a P/E ratio of 17.82 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results 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 return on equity of 10.82% and a net margin of 7.13%. The business had revenue of $614.50 million for the quarter, compared to analysts’ expectations of $611.62 million. During the same quarter last year, the company posted $0.74 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Selective Insurance Group, Inc. will post $3.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 annualized dividend and a yield of 1.25%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.22%.

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SIGI has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, April 13th. BidaskClub upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $50.00 price objective on shares of Selective Insurance Group in a report on Friday, July 28th. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.73.

In other news, CEO Gregory E. Murphy sold 8,789 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $49.80, for a total value of $437,692.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $51,060.00. The disclosure for this sale can be found here. Insiders have sold 20,547 shares of company stock worth $1,031,269 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Selective Insurance Group Company 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.

Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group, Inc. (NASDAQ:SIGI).

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

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