Voya Investment Management LLC trimmed its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,151 shares of the insurance provider’s stock after selling 27,889 shares during the period. Voya Investment Management LLC owned 0.67% of Selective Insurance Group worth $19,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Teacher Retirement System of Texas grew its position in shares of Selective Insurance Group by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 4,657 shares of the insurance provider’s stock valued at $233,000 after purchasing an additional 94 shares during the period. LS Investment Advisors LLC increased its stake in shares of Selective Insurance Group by 5.1% during the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 106 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Selective Insurance Group by 0.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 16,770 shares of the insurance provider’s stock worth $790,000 after purchasing an additional 130 shares in the last quarter. Amalgamated Bank increased its stake in shares of Selective Insurance Group by 1.7% during the second quarter. Amalgamated Bank now owns 7,839 shares of the insurance provider’s stock worth $392,000 after purchasing an additional 132 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Selective Insurance Group by 8.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 204 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

SIGI has been the subject of several research analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $50.00 price target on shares of Selective Insurance Group in a research report on Tuesday. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods set a $48.00 price objective on Selective Insurance Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. Finally, BidaskClub upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.73.

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In related news, Director Paul D. Bauer sold 1,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.06, for a total transaction of $51,060.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Morrissey sold 665 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 4,148 shares of company stock valued at $210,141. Company insiders own 3.00% of the company’s stock.

Selective Insurance Group, Inc. (NASDAQ:SIGI) opened at 54.95 on Tuesday. Selective Insurance Group, Inc. has a one year low of $34.95 and a one year high of $55.00. The firm has a 50-day moving average price of $50.85 and a 200-day moving average price of $49.91. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 19.14 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 10.82% and a net margin of 7.13%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts predict that Selective Insurance Group, Inc. will post $3.04 earnings per share for the current year.

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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