Alliancebernstein L.P. decreased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 11.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,533,851 shares of the insurance provider’s stock after selling 191,017 shares during the quarter. Alliancebernstein L.P. owned 2.63% of Selective Insurance Group worth $76,769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SIGI. LS Investment Advisors LLC raised its holdings in Selective Insurance Group by 5.1% in the 2nd quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 106 shares during the period. Tyers Asset Management LLC raised its holdings in Selective Insurance Group by 2.8% in the 1st quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 66 shares during the period. 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 worth $126,000 after purchasing an additional 204 shares during the period. Flinton Capital Management LLC raised its holdings in Selective Insurance Group by 2.8% in the 1st quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock worth $148,000 after purchasing an additional 84 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Selective Insurance Group by 7.6% in the 1st quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock worth $177,000 after purchasing an additional 265 shares during the period. 78.09% of the stock is owned by institutional investors.

Selective Insurance Group, Inc. (NASDAQ:SIGI) opened at 49.80 on Wednesday. The firm has a market cap of $2.91 billion, a PE ratio of 17.35 and a beta of 1.44. The firm’s 50 day moving average price is $50.36 and its 200-day moving average price is $49.31. Selective Insurance Group, Inc. has a one year low of $34.95 and a one year high of $53.75.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.29%. Selective Insurance Group’s payout ratio is 22.22%.

A number of equities analysts recently weighed in on SIGI shares. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Zacks Investment Research cut Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Selective Insurance Group in a report on Wednesday, July 12th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Selective Insurance Group has an average rating of “Hold” and a consensus target price of $47.73.

In other news, Director Michael J. Morrissey sold 2,483 shares of Selective Insurance Group stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $50.46, for a total transaction of $125,292.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction that occurred on Friday, August 4th. The shares were 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. Over the last quarter, insiders have sold 4,148 shares of company stock valued at $210,141. Insiders own 3.00% of the company’s stock.

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Selective Insurance Group 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.

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

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