Selective Insurance Group (NASDAQ:SIGI) was the target of a significant drop in short interest in the month of December. As of December 29th, there was short interest totalling 380,587 shares, a drop of 45.5% from the December 15th total of 698,685 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 126,693 shares, the days-to-cover ratio is currently 3.0 days.

SIGI has been the topic of a number of research analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research note on Friday, October 27th. Zacks Investment Research lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 14th. Royal Bank of Canada reiterated a “hold” rating and set a $59.00 price objective on shares of Selective Insurance Group in a research note on Friday, December 8th. BidaskClub cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods set a $55.00 target price on shares of Selective Insurance Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.13.

Shares of Selective Insurance Group (SIGI) opened at $60.75 on Thursday. The firm has a market cap of $3,550.00, a P/E ratio of 20.18, a P/E/G ratio of 0.87 and a beta of 1.45. Selective Insurance Group has a 1-year low of $38.50 and a 1-year high of $62.40. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.10. The firm had revenue of $621.30 million during the quarter, compared to analysts’ expectations of $625.80 million. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.00%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. equities research analysts predict that Selective Insurance Group will post 3.08 EPS for the current fiscal year.

In related news, Director John Burville sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $58.76, for a total transaction of $58,760.00. Following the transaction, the director now owns 82,898 shares in the company, valued at $4,871,086.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Bauer sold 28,840 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $61.14, for a total transaction of $1,763,277.60. The disclosure for this sale can be found here. Insiders have sold 45,375 shares of company stock worth $2,740,784 in the last quarter. Company insiders own 3.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in Selective Insurance Group by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock worth $123,000 after buying an additional 23 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 buying an additional 204 shares in the last quarter. McQueen Ball & Associates Inc. bought a new stake in Selective Insurance Group during the fourth quarter worth approximately $203,000. Advisor Group Inc. boosted its holdings in Selective Insurance Group by 41.3% during the second quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock worth $182,000 after buying an additional 1,061 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in Selective Insurance Group in the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.

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Selective Insurance Group Company 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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