UBS Asset Management Americas Inc. Has $1.74 Million Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

UBS Asset Management Americas Inc. lessened its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,825 shares of the insurance provider’s stock after selling 2,559 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.06% of Selective Insurance Group worth $1,743,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LS Investment Advisors LLC increased its holdings 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 valued at $109,000 after purchasing an additional 106 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $126,000 after purchasing an additional 204 shares during the last quarter. Victory Capital Management Inc. increased its holdings 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 valued at $177,000 after purchasing an additional 265 shares during the last quarter. First Quadrant L P CA increased its holdings 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 valued at $204,000 after purchasing an additional 3,461 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in shares of Selective Insurance Group by 53.3% in the second quarter. Riverhead Capital Management LLC now owns 4,293 shares of the insurance provider’s stock valued at $215,000 after purchasing an additional 1,493 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 665 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul D. Bauer sold 1,000 shares of the business’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 disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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Selective Insurance Group, Inc. (NASDAQ:SIGI) opened at 58.60 on Friday. Selective Insurance Group, Inc. has a 12-month low of $34.95 and a 12-month high of $58.85. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 20.41 and a beta of 1.44. The company has a 50-day moving average price of $52.91 and a 200-day moving average price of $50.88.

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, beating the consensus estimate of $0.62 by $0.10. The business had revenue of $621.30 million for the quarter, compared to analyst estimates of $625.80 million. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.18%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. On average, equities research analysts forecast that Selective Insurance Group, Inc. will post $2.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a $0.18 dividend. The ex-dividend date is Tuesday, November 14th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.23%. Selective Insurance Group’s payout ratio is 21.26%.

Several research firms have issued reports on SIGI. Zacks Investment Research raised Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Selective Insurance Group in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Selective Insurance Group has a consensus rating of “Hold” and an average target price of $46.91.

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.

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

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