New York State Common Retirement Fund increased its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,245 shares of the insurance provider’s stock after acquiring an additional 4,899 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Selective Insurance Group worth $3,866,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SIGI. LS Investment Advisors LLC lifted its stake in shares of Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 106 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 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 worth $126,000 after acquiring an additional 204 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Selective Insurance Group by 7.6% in the first quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock worth $177,000 after acquiring an additional 265 shares during the period. First Quadrant L P CA lifted its stake in shares of Selective Insurance Group by 560.9% in the second quarter. First Quadrant L P CA now owns 4,078 shares of the insurance provider’s stock worth $204,000 after acquiring an additional 3,461 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of Selective Insurance Group in the first quarter worth approximately $205,000. 77.73% of the stock is currently owned by institutional investors.

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In other news, Director Michael J. Morrissey sold 665 shares of the firm’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 owns 15,177 shares in the company, valued at approximately $771,143.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul D. Bauer sold 1,000 shares of the firm’s stock in a transaction that occurred on 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. In the last 90 days, insiders sold 4,148 shares of company stock valued at $210,141. 3.00% of the stock is currently owned by company insiders.

Selective Insurance Group, Inc. (NASDAQ SIGI) opened at 55.00 on Thursday. The firm has a 50-day moving average price of $52.19 and a 200 day moving average price of $50.53. Selective Insurance Group, Inc. has a 52 week low of $34.95 and a 52 week high of $55.30. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 19.16 and a beta of 1.44.

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). The firm had revenue of $614.50 million during the quarter, compared to analysts’ expectations of $611.62 million. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post $2.98 earnings per share for the current fiscal year.

A number of equities analysts recently commented on SIGI shares. BidaskClub lowered Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Selective Insurance Group in a research note on Wednesday, July 12th. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Finally, ValuEngine lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $46.91.

About Selective Insurance Group

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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