Argyle Capital Management Inc. held its stake in Selective Insurance Group Inc. (NASDAQ:SIGI) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,474 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Selective Insurance Group were worth $209,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in SIGI. Genesee Valley Trust Co. boosted its stake in Selective Insurance Group by 5.8% in the second quarter. Genesee Valley Trust Co. now owns 10,700 shares of the company’s stock worth $409,000 after buying an additional 585 shares during the period. Strs Ohio boosted its stake in shares of Selective Insurance Group by 1.2% in the second quarter. Strs Ohio now owns 33,500 shares of the company’s stock valued at $1,280,000 after buying an additional 400 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Selective Insurance Group during the second quarter valued at approximately $4,936,000. New York State Teachers Retirement System boosted its stake in shares of Selective Insurance Group by 0.5% in the second quarter. New York State Teachers Retirement System now owns 148,944 shares of the company’s stock valued at $5,691,000 after buying an additional 800 shares during the last quarter. Finally, 1st Global Advisors Inc. purchased a new stake in shares of Selective Insurance Group during the second quarter valued at approximately $204,000. 76.74% of the stock is currently owned by institutional investors.
Shares of Selective Insurance Group Inc. (NASDAQ:SIGI) traded up 0.45% during midday trading on Tuesday, reaching $39.94. The company had a trading volume of 170,683 shares. The firm’s 50 day moving average price is $39.56 and its 200-day moving average price is $37.43. Selective Insurance Group Inc. has a 12 month low of $29.27 and a 12 month high of $41.30. The company has a market capitalization of $2.31 billion, a P/E ratio of 13.50 and a beta of 1.40.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.13. The business earned $568.70 million during the quarter, compared to analyst estimates of $569.77 million. Selective Insurance Group had a net margin of 7.84% and a return on equity of 12.11%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Analysts anticipate that Selective Insurance Group Inc. will post $2.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. Selective Insurance Group’s payout ratio is currently 20.27%.
Separately, Keefe, Bruyette & Woods set a $41.00 target price on Selective Insurance Group and gave the stock a “hold” rating in a report on Monday, August 1st.
In related news, CEO Gregory E. Murphy sold 8,333 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $39.50, for a total value of $329,153.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A David Brown sold 6,400 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $39.23, for a total transaction of $251,072.00. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
About Selective Insurance Group
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.
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