Short Interest in Selective Insurance Group (SIGI) Decreases By 45.5%

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

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $55.00 price objective on shares of Selective Insurance Group in a research note on Friday, October 27th. BidaskClub lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research note on Friday, October 27th. Finally, ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock 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. Selective Insurance Group has a 12 month low of $38.50 and a 12 month high of $62.40. The company has a market cap of $3,550.00, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 0.87 and a beta of 1.45. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.00%. The company had revenue of $621.30 million for the quarter, compared to analyst estimates of $625.80 million. During the same quarter last year, the business earned $0.66 earnings per share. Selective Insurance Group’s revenue was up 6.8% compared to the same quarter last year. equities research analysts forecast 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 stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $58.76, for a total transaction of $58,760.00. Following the sale, 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 SEC, which is available through this hyperlink. Also, Director Paul D. Bauer sold 28,840 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 45,375 shares of company stock worth $2,740,784. 3.00% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its stake in shares of Selective Insurance Group by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after purchasing an additional 23 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 period. McQueen Ball & Associates Inc. acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $203,000. Advisor Group Inc. increased its stake in shares of Selective Insurance Group by 41.3% in the second quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock valued at $182,000 after purchasing an additional 1,061 shares during the period. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Selective Insurance Group in the third quarter valued at approximately $201,000. Institutional investors own 77.87% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Short Interest in Selective Insurance Group (SIGI) Decreases By 45.5%” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/01/18/short-interest-in-selective-insurance-group-sigi-decreases-by-45-5.html.

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.

Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply