Legal & General Group Plc Has $6.52 Million Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Legal & General Group Plc grew its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,125 shares of the insurance provider’s stock after purchasing an additional 7,919 shares during the quarter. Legal & General Group Plc owned approximately 0.22% of Selective Insurance Group worth $6,518,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SIGI. Nationwide Fund Advisors increased its position in Selective Insurance Group by 7.6% during the first quarter. Nationwide Fund Advisors now owns 114,349 shares of the insurance provider’s stock worth $5,392,000 after acquiring an additional 8,037 shares during the period. Great West Life Assurance Co. Can boosted its stake in Selective Insurance Group by 6.9% during the first quarter. Great West Life Assurance Co. Can now owns 81,377 shares of the insurance provider’s stock worth $3,833,000 after buying an additional 5,246 shares in the last quarter. Tyers Asset Management LLC boosted its stake in Selective Insurance Group by 2.8% during the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock worth $116,000 after buying an additional 66 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in Selective Insurance Group during the first quarter worth $229,000. Finally, First Trust Advisors LP boosted its stake in Selective Insurance Group by 3.3% during the first quarter. First Trust Advisors LP now owns 59,901 shares of the insurance provider’s stock worth $2,824,000 after buying an additional 1,910 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods set a $48.00 target price on shares of Selective Insurance Group and gave the company a “hold” rating in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $50.00 price target on shares of Selective Insurance Group in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.73.

In other news, Director Michael J. Morrissey sold 665 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.81, for a total value of $33,788.65. Following the transaction, the director now directly owns 15,177 shares in the company, valued at $771,143.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were 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. Over the last 90 days, insiders sold 4,148 shares of company stock worth $210,141. Company insiders own 3.00% of the company’s stock.

Shares of Selective Insurance Group, Inc. (SIGI) traded up 0.39% during mid-day trading on Thursday, hitting $51.85. The stock had a trading volume of 146,824 shares. The stock’s 50-day moving average is $50.39 and its 200-day moving average is $49.57. The firm has a market capitalization of $3.03 billion, a PE ratio of 18.06 and a beta of 1.44. Selective Insurance Group, Inc. has a 1-year low of $34.95 and a 1-year high of $53.75.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.05). The firm had revenue of $614.50 million during the quarter, compared to analysts’ expectations of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. Equities analysts expect that Selective Insurance Group, Inc. will post $3.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.24%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.22%.

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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.

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

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