State of Alaska Department of Revenue Acquires 285 Shares of Selective Insurance Group (NASDAQ:SIGI)

State of Alaska Department of Revenue boosted its holdings in Selective Insurance Group (NASDAQ:SIGI) by 1.4% during the second quarter, Holdings Channel.com reports. The fund owned 20,160 shares of the insurance provider’s stock after buying an additional 285 shares during the quarter. State of Alaska Department of Revenue’s holdings in Selective Insurance Group were worth $1,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Crossmark Global Holdings Inc. increased its position in shares of Selective Insurance Group by 4.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,480 shares of the insurance provider’s stock valued at $410,000 after purchasing an additional 247 shares during the last quarter. Arizona State Retirement System increased its position in shares of Selective Insurance Group by 0.3% during the 1st quarter. Arizona State Retirement System now owns 90,965 shares of the insurance provider’s stock valued at $5,756,000 after purchasing an additional 277 shares during the last quarter. First National Bank of Omaha increased its position in shares of Selective Insurance Group by 0.8% during the 1st quarter. First National Bank of Omaha now owns 41,159 shares of the insurance provider’s stock valued at $2,605,000 after purchasing an additional 311 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Selective Insurance Group by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,208 shares of the insurance provider’s stock valued at $1,738,000 after purchasing an additional 400 shares during the last quarter. Finally, Sageworth Trust Co bought a new position in shares of Selective Insurance Group during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 78.47% of the company’s stock.

In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 1,468 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $71.11, for a total value of $104,389.48. Following the completion of the sale, the director now owns 19,859 shares in the company, valued at approximately $1,412,173.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael H. Lanza sold 6,946 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $70.90, for a total value of $492,471.40. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

SIGI traded down $0.69 on Monday, hitting $77.32. 2,760 shares of the company were exchanged, compared to its average volume of 188,597. The stock’s fifty day moving average price is $76.18. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. Selective Insurance Group has a 12 month low of $56.22 and a 12 month high of $80.04. The company has a market capitalization of $4.62 billion, a PE ratio of 21.31, a PEG ratio of 1.72 and a beta of 0.86.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.10. Selective Insurance Group had a return on equity of 13.54% and a net margin of 8.65%. The business had revenue of $708.20 million for the quarter, compared to analyst estimates of $707.83 million. During the same period last year, the company earned $1.01 EPS. Selective Insurance Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Selective Insurance Group will post 4.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 1.03%. Selective Insurance Group’s payout ratio is 21.86%.

Several brokerages have recently commented on SIGI. Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, May 2nd. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, BidaskClub upgraded Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $65.33.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

Recommended Story: Does a trade war provide a risk to the global economy?

Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group (NASDAQ:SIGI).

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

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.