Cramer Rosenthal Mcglynn LLC Boosts Stock Position in Selective Insurance Group (NASDAQ:SIGI)

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Cramer Rosenthal Mcglynn LLC grew its holdings in Selective Insurance Group (NASDAQ:SIGI) by 264.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 501,841 shares of the insurance provider’s stock after acquiring an additional 363,956 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.85% of Selective Insurance Group worth $37,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Creative Planning increased its stake in shares of Selective Insurance Group by 0.7% in the second quarter. Creative Planning now owns 31,099 shares of the insurance provider’s stock worth $2,329,000 after acquiring an additional 206 shares during the last quarter. MML Investors Services LLC raised its position in Selective Insurance Group by 5.7% in the second quarter. MML Investors Services LLC now owns 4,018 shares of the insurance provider’s stock worth $301,000 after purchasing an additional 216 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Selective Insurance Group by 4.7% in the second quarter. Crossmark Global Holdings Inc. now owns 5,480 shares of the insurance provider’s stock worth $410,000 after purchasing an additional 247 shares in the last quarter. State of Alaska Department of Revenue raised its position in Selective Insurance Group by 1.4% in the second quarter. State of Alaska Department of Revenue now owns 20,160 shares of the insurance provider’s stock worth $1,509,000 after purchasing an additional 285 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in Selective Insurance Group by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,640 shares of the insurance provider’s stock worth $1,321,000 after purchasing an additional 310 shares in the last quarter. 79.06% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SIGI traded down $0.12 during midday trading on Friday, reaching $75.55. 8 shares of the stock were exchanged, compared to its average volume of 234,661. The business has a 50-day simple moving average of $78.36 and a two-hundred day simple moving average of $72.37. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.63 and a beta of 0.82. Selective Insurance Group has a 12 month low of $56.22 and a 12 month high of $81.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.10. Selective Insurance Group had a net margin of 8.65% and a return on equity of 13.53%. The business had revenue of $708.20 million for the quarter, compared to analyst estimates of $707.83 million. During the same period last year, the business posted $1.01 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Selective Insurance Group will post 4.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, August 14th. Selective Insurance Group’s payout ratio is 21.86%.

Several research firms have recently weighed in on SIGI. Buckingham Research raised their price objective on shares of Selective Insurance Group from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday. ValuEngine lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, BidaskClub lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $69.67.

In related news, Director William M. Rue sold 7,795 shares of Selective Insurance Group stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $77.64, for a total value of $605,203.80. Following the transaction, the director now directly owns 337,804 shares of the company’s stock, valued at $26,227,102.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Selective Insurance Group Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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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 (NASDAQ:SIGI).

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

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