Hancock Holding Co. Continues to Hold Position in Selective Insurance Group Inc. (SIGI)
Hancock Holding Co. continued to hold its stake in Selective Insurance Group Inc. (NASDAQ:SIGI) during the second quarter, Holdings Channel reports. The firm owned 19,370 shares of the company’s stock at the end of the second quarter. Hancock Holding Co.’s holdings in Selective Insurance Group were worth $740,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SIGI. Bank of New York Mellon Corp increased its position in shares of Selective Insurance Group by 45.8% in the second quarter. Bank of New York Mellon Corp now owns 1,243,563 shares of the company’s stock valued at $47,517,000 after buying an additional 390,384 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Selective Insurance Group by 38.5% in the second quarter. Frontier Capital Management Co. LLC now owns 1,387,530 shares of the company’s stock valued at $53,018,000 after buying an additional 385,549 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Selective Insurance Group during the second quarter valued at approximately $13,667,000. Bank of Montreal Can bought a new position in shares of Selective Insurance Group during the second quarter valued at approximately $4,936,000. Finally, Phocas Financial Corp. bought a new position in shares of Selective Insurance Group during the first quarter valued at approximately $4,343,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
Selective Insurance Group Inc. (NASDAQ:SIGI) traded up 0.15% during trading on Tuesday, hitting $39.41. 26,647 shares of the stock traded hands. The company has a 50-day moving average price of $39.36 and a 200-day moving average price of $37.19. The stock has a market cap of $2.28 billion, a PE ratio of 13.32 and a beta of 1.40. Selective Insurance Group Inc. has a 12 month low of $29.27 and a 12 month high of $41.30.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. The company earned $568.70 million during the quarter, compared to analysts’ expectations of $569.77 million. Selective Insurance Group had a net margin of 7.84% and a return on equity of 12.11%. Selective Insurance Group’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Equities research analysts expect that Selective Insurance Group Inc. will post $2.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 1.52%. Selective Insurance Group’s dividend payout ratio is presently 20.27%.
Separately, Keefe, Bruyette & Woods set a $41.00 price objective on shares of Selective Insurance Group and gave the company a “hold” rating in a research note on Monday, August 1st.
In other Selective Insurance Group news, CFO Dale A. Thatcher sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $39.30, for a total value of $1,179,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory E. Murphy sold 8,333 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $39.50, for a total transaction of $329,153.50. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.
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