Selective Insurance Group (SIGI) Position Lifted by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in Selective Insurance Group (NASDAQ:SIGI) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,194 shares of the insurance provider’s stock after acquiring an additional 4,994 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Selective Insurance Group worth $6,149,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in Selective Insurance Group by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after buying an additional 23 shares during the last quarter. Amalgamated Bank increased its holdings in Selective Insurance Group by 1.7% in the second quarter. Amalgamated Bank now owns 7,839 shares of the insurance provider’s stock valued at $392,000 after buying an additional 132 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $126,000 after buying an additional 204 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Selective Insurance Group by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 44,119 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 276 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Selective Insurance Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,412 shares of the insurance provider’s stock valued at $221,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 77.76% of the company’s stock.

Selective Insurance Group (NASDAQ:SIGI) opened at $57.50 on Friday. The company has a market capitalization of $3,360.00, a P/E ratio of 19.10, a PEG ratio of 1.32 and a beta of 1.45. Selective Insurance Group has a fifty-two week low of $38.50 and a fifty-two week high of $62.40. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.10. The company had revenue of $621.30 million during the quarter, compared to analyst estimates of $625.80 million. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. sell-side analysts predict that Selective Insurance Group will post 3.08 EPS for the current fiscal year.

SIGI has been the subject of several research analyst reports. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BidaskClub lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Royal Bank of Canada reissued a “hold” rating and issued a $55.00 price objective on shares of Selective Insurance Group in a report on Friday, October 27th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Selective Insurance Group currently has an average rating of “Hold” and a consensus target price of $54.13.

In other news, Director John Burville sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $59.10, for a total transaction of $35,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Morrissey sold 1,875 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $61.47, for a total value of $115,256.25. The disclosure for this sale can be found here. Insiders have sold 45,375 shares of company stock valued at $2,740,784 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

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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.

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

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