New York State Common Retirement Fund Has $3.87 Million Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

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

A number of other large investors have also recently made changes to their positions in SIGI. LS Investment Advisors LLC lifted its holdings in shares of Selective Insurance Group by 5.1% during the 2nd 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 lifted its holdings in shares of Selective Insurance Group by 8.8% during the 2nd 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. lifted its holdings in shares of Selective Insurance Group by 7.6% during the 1st 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 lifted its holdings in shares of Selective Insurance Group by 560.9% during the 2nd 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, M&T Bank Corp purchased a new position in Selective Insurance Group in the 1st quarter worth $205,000. 77.65% of the stock is currently owned by institutional investors.

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) opened at 59.20 on Friday. Selective Insurance Group, Inc. has a 12-month low of $34.95 and a 12-month high of $59.20. The firm has a market capitalization of $3.46 billion, a PE ratio of 20.62 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 announced its quarterly earnings data on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.10. The firm had revenue of $621.30 million for the quarter, compared to the consensus estimate 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 was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, equities analysts expect that Selective Insurance Group, Inc. will post $2.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost 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 1.22%. Selective Insurance Group’s payout ratio is 21.26%.

In related news, Director Michael J. Morrissey sold 665 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $50.81, for a total transaction of $33,788.65. Following the completion of the transaction, the director now directly owns 15,177 shares in the company, valued at approximately $771,143.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bauer sold 1,000 shares of the business’s 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 disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

A number of equities analysts recently issued reports on SIGI shares. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 price target on shares of Selective Insurance Group in a research report on Wednesday, July 12th. Finally, BidaskClub raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $48.16.

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Selective Insurance Group 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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