Schwab Charles Investment Management Inc. Boosts Position in Selective Insurance Group (SIGI)

Schwab Charles Investment Management Inc. raised its stake in Selective Insurance Group (NASDAQ:SIGI) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,981 shares of the insurance provider’s stock after purchasing an additional 18,618 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.58% of Selective Insurance Group worth $18,308,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its holdings in Selective Insurance Group by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after acquiring an additional 23 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Selective Insurance Group by 8.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 204 shares in the last quarter. Advisor Group Inc. raised its holdings in Selective Insurance Group by 41.3% in the 2nd quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 1,061 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Selective Insurance Group in the 2nd quarter valued at $199,000. Finally, Sciencast Management LP acquired a new position in Selective Insurance Group in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 77.76% of the company’s stock.

In related news, Director Paul D. Bauer sold 28,840 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $61.14, for a total transaction of $1,763,277.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Morrissey sold 1,875 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $61.47, for a total value of $115,256.25. The disclosure for this sale can be found here. Insiders sold a total of 45,375 shares of company stock worth $2,740,784 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Shares of Selective Insurance Group (NASDAQ:SIGI) traded up $0.50 on Thursday, reaching $59.00. The company’s stock had a trading volume of 222,858 shares, compared to its average volume of 169,613. Selective Insurance Group has a fifty-two week low of $38.50 and a fifty-two week high of $62.40. The firm has a market cap of $3,450.00, a PE ratio of 19.60, a PEG ratio of 1.32 and a beta of 1.45. 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 released its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The firm had revenue of $621.30 million for the quarter, compared to analyst estimates of $625.80 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business’s revenue was up 6.8% on a year-over-year basis. equities analysts forecast that Selective Insurance Group will post 3.08 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on SIGI shares. Zacks Investment Research raised Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Royal Bank of Canada reissued a “hold” rating and set a $50.00 price target on shares of Selective Insurance Group in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods set a $55.00 price target on Selective Insurance Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, BidaskClub cut Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Selective Insurance Group has an average rating of “Hold” and an average target price of $54.13.

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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.

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

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