Piedmont Investment Advisors LLC acquired a new position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,595 shares of the insurance provider’s stock, valued at approximately $630,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its holdings in Selective Insurance Group by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,657 shares of the insurance provider’s stock worth $233,000 after acquiring an additional 94 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in Selective Insurance Group by 5.1% during the 2nd quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 106 shares during the last quarter. Amalgamated Bank boosted its holdings in Selective Insurance Group by 1.7% during the 2nd quarter. Amalgamated Bank now owns 7,839 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 132 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Selective Insurance Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 204 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Selective Insurance Group by 7.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock worth $177,000 after acquiring an additional 265 shares during the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Selective Insurance Group, Inc. (SIGI) traded up 0.83% during midday trading on Wednesday, hitting $54.85. The stock had a trading volume of 6,404 shares. The stock’s 50 day moving average price is $51.87 and its 200 day moving average price is $50.38. Selective Insurance Group, Inc. has a 12 month low of $34.95 and a 12 month high of $55.15. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 19.10 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.05). The firm had revenue of $614.50 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. On average, equities analysts forecast that Selective Insurance Group, Inc. will post $2.98 EPS for the current fiscal year.

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SIGI has been the topic of a number of research analyst reports. BidaskClub raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price target on shares of Selective Insurance Group in a report on Tuesday, October 3rd. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Keefe, Bruyette & Woods set a $48.00 price target on shares of Selective Insurance Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.91.

In other news, Director Michael J. Morrissey sold 2,483 shares of Selective Insurance Group stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $50.46, for a total transaction of $125,292.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.06, for a total value of $51,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,148 shares of company stock worth $210,141. Insiders own 3.00% of the company’s stock.

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.

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

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