GSA Capital Partners LLP grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 55.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,500 shares of the insurance provider’s stock after purchasing an additional 10,202 shares during the quarter. GSA Capital Partners LLP’s holdings in Selective Insurance Group were worth $1,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SIGI. LS Investment Advisors LLC increased its position in shares of Selective Insurance Group by 5.1% during the 2nd quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after purchasing an additional 106 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Selective Insurance Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 204 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Selective Insurance Group by 7.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock valued at $177,000 after purchasing an additional 265 shares during the last quarter. First Quadrant L P CA increased its position in shares of Selective Insurance Group by 560.9% during the 2nd quarter. First Quadrant L P CA now owns 4,078 shares of the insurance provider’s stock valued at $204,000 after purchasing an additional 3,461 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Selective Insurance Group during the 1st quarter valued at about $205,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on SIGI. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods set a $48.00 price target on shares of Selective Insurance Group and gave the company a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised 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 reaffirmed 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.73.

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Shares of Selective Insurance Group, Inc. (SIGI) opened at 52.20 on Monday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 18.18 and a beta of 1.44. Selective Insurance Group, Inc. has a 12-month low of $34.95 and a 12-month high of $53.75. The company has a 50-day moving average of $50.39 and a 200 day moving average of $49.57.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. During the same period last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts predict that Selective Insurance Group, Inc. will post $3.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, August 11th. Selective Insurance Group’s payout ratio is presently 22.22%.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 665 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.81, for a total value of $33,788.65. Following the completion of the transaction, the director now directly owns 15,177 shares of the company’s stock, valued at $771,143.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Morrissey sold 2,483 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $50.46, for a total value of $125,292.18. The disclosure for this sale can be found here. Insiders sold 4,148 shares of company stock valued at $210,141 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Selective Insurance Group 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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