Cigna Investments Inc. New bought a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,359 shares of the insurance provider’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1st Global Advisors Inc. boosted its position in shares of Selective Insurance Group by 0.9% in the first quarter. 1st Global Advisors Inc. now owns 5,600 shares of the insurance provider’s stock worth $264,000 after buying an additional 50 shares during the last quarter. Tyers Asset Management LLC boosted its position in shares of Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock worth $116,000 after buying an additional 66 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock worth $148,000 after buying an additional 84 shares during the last quarter. Neuburgh Advisers LLC boosted its position in shares of Selective Insurance Group by 2.8% in the first quarter. Neuburgh Advisers LLC now owns 3,808 shares of the insurance provider’s stock worth $180,000 after buying an additional 102 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 76.78% of the company’s stock.

Selective Insurance Group, Inc. (NASDAQ SIGI) opened at 50.45 on Tuesday. Selective Insurance Group, Inc. has a 52 week low of $34.95 and a 52 week high of $53.75. The firm has a market cap of $2.94 billion, a PE ratio of 17.57 and a beta of 1.44. The firm’s 50 day moving average price is $50.88 and its 200-day moving average price is $48.69.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business 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 company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. On average, analysts forecast that Selective Insurance Group, Inc. will post $3.07 EPS for the current year.

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

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A number of research analysts recently weighed in on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a report on Wednesday, July 12th. BidaskClub upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Keefe, Bruyette & Woods set a $48.00 price objective on Selective Insurance Group and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, ValuEngine cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.73.

In other Selective Insurance Group news, CEO Gregory E. Murphy sold 8,789 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $49.80, for a total transaction of $437,692.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of the stock in a transaction on Friday, August 4th. The stock was 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. Insiders have sold 12,272 shares of company stock worth $614,044 over the last three months. Company insiders own 3.00% of the company’s stock.

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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