Great West Life Assurance Co. Can boosted its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,273 shares of the insurance provider’s stock after buying an additional 2,896 shares during the period. Great West Life Assurance Co. Can’s holdings in Selective Insurance Group were worth $4,213,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. LS Investment Advisors LLC raised 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 buying an additional 106 shares during the last quarter. Tyers Asset Management LLC raised its stake in shares of Selective Insurance Group by 2.8% in 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 during the last quarter. Whittier Trust Co. purchased a new stake in shares of Selective Insurance Group during the first quarter worth about $144,000. Flinton Capital Management LLC raised its stake in shares of Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock worth $148,000 after buying an additional 84 shares during the last quarter. Finally, Victory Capital Management Inc. raised 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 buying an additional 265 shares during the last quarter. 76.78% of the stock is currently owned by institutional investors.

Shares of Selective Insurance Group, Inc. (SIGI) opened at 50.50 on Wednesday. The stock’s 50 day moving average price is $50.81 and its 200-day moving average price is $48.42. Selective Insurance Group, Inc. has a 52-week low of $34.95 and a 52-week high of $53.75. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 17.59 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, analysts predict that Selective Insurance Group, Inc. will post $3.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 annualized dividend and a dividend yield of 1.27%. Selective Insurance Group’s payout ratio is 22.22%.

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A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a research report on Tuesday, May 2nd. Zacks Investment Research lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub lowered Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 23rd. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 target price on shares of Selective Insurance Group in a research report on Friday, July 28th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.73.

In related news, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.06, for a total transaction of $51,060.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul D. Bauer sold 2,000 shares of Selective Insurance Group stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $50.20, for a total transaction of $100,400.00. Following the transaction, the director now owns 76,063 shares in the company, valued at approximately $3,818,362.60. The disclosure for this sale can be found here. Insiders have sold a total of 20,547 shares of company stock worth $1,031,269 in the last 90 days. Company insiders own 3.00% of the company’s stock.

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.

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

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