First Citizens Bank & Trust Co. cut its position in Selective Insurance Group Inc. (NASDAQ:SIGI) by 8.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,969 shares of the company’s stock after selling 1,607 shares during the period. First Citizens Bank & Trust Co.’s holdings in Selective Insurance Group were worth $648,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. 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 in the last quarter. Strs Ohio boosted its stake in Selective Insurance Group by 1.2% in the second quarter. Strs Ohio now owns 33,500 shares of the company’s stock worth $1,280,000 after buying an additional 400 shares in the last quarter. Bank of Montreal Can acquired a new stake in Selective Insurance Group during the second quarter worth approximately $4,936,000. New York State Teachers Retirement System boosted its stake in 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 worth $5,691,000 after buying an additional 800 shares in the last quarter. Finally, 1st Global Advisors Inc. acquired a new stake in Selective Insurance Group during the second quarter worth approximately $204,000. 76.73% of the stock is currently owned by institutional investors.
Shares of Selective Insurance Group Inc. (NASDAQ:SIGI) traded up 0.85% on Friday, hitting $40.43. The stock had a trading volume of 243,300 shares. The firm has a market cap of $2.34 billion, a P/E ratio of 13.67 and a beta of 1.33. The firm’s 50-day moving average price is $39.76 and its 200 day moving average price is $37.74. Selective Insurance Group Inc. has a 12 month low of $29.27 and a 12 month high of $41.30.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.13. Selective Insurance Group had a return on equity of 12.11% and a net margin of 7.84%. The business earned $568.70 million during the quarter, compared to analyst estimates of $569.77 million. During the same period in the previous year, the firm earned $0.62 EPS. Selective Insurance Group’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Selective Insurance Group Inc. will post $2.75 EPS for the current fiscal year.
Separately, Keefe, Bruyette & Woods set a $41.00 price objective on Selective Insurance Group and gave the company a “hold” rating in a research report on Monday, August 1st.
In related news, Director A David Brown sold 6,400 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $39.23, for a total value of $251,072.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory E. Murphy sold 8,333 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $38.97, for a total value of $324,737.01. Following the completion of the transaction, the chief executive officer now owns 277,046 shares of the company’s stock, valued at $10,796,482.62. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Selective Insurance Group Company Profile
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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