Public Employees Retirement Association of Colorado Buys 23,764 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Public Employees Retirement Association of Colorado increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,432 shares of the insurance provider’s stock after buying an additional 23,764 shares during the period. Public Employees Retirement Association of Colorado owned 0.69% of Selective Insurance Group worth $20,142,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SIGI. Norges Bank acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth approximately $27,367,000. Copper Rock Capital Partners LLC raised its stake in shares of Selective Insurance Group by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 597,885 shares of the insurance provider’s stock worth $28,101,000 after buying an additional 10,061 shares during the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Selective Insurance Group during the first quarter worth approximately $251,000. First National Bank of Omaha raised its stake in shares of Selective Insurance Group by 25.4% in the first quarter. First National Bank of Omaha now owns 44,268 shares of the insurance provider’s stock worth $2,087,000 after buying an additional 8,960 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Selective Insurance Group by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the insurance provider’s stock worth $1,117,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 76.78% of the company’s stock.

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) opened at 50.45 on Friday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 17.57 and a beta of 1.44. Selective Insurance Group, Inc. has a one year low of $34.95 and a one year high of $53.75. The stock’s 50 day moving average price is $50.87 and its 200 day moving average price is $48.52.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.73 by $0.05. The firm had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. Analysts expect that Selective Insurance Group, Inc. will post $3.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 annualized dividend and a dividend yield of 1.27%. Selective Insurance Group’s dividend payout ratio is currently 22.22%.

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SIGI has been the subject of a number of research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $48.00 price objective on shares of Selective Insurance Group in a research report on Tuesday, May 2nd. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price target on shares of Selective Insurance Group in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.73.

In other news, Director Paul D. Bauer sold 1,000 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director A David Brown sold 6,275 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $50.49, for a total value of $316,824.75. Following the transaction, the director now directly owns 21,650 shares of the company’s stock, valued at $1,093,108.50. The disclosure for this sale can be found here. Insiders have sold 20,547 shares of company stock valued at $1,031,269 over the last ninety days. 3.00% of the stock is owned by insiders.

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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