Nationwide Fund Advisors boosted its stake in Selective Insurance Group Inc. (NASDAQ:SIGI) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 111,794 shares of the company’s stock after buying an additional 123 shares during the period. Nationwide Fund Advisors owned approximately 0.19% of Selective Insurance Group worth $4,272,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Selective Insurance Group by 45.8% in the second quarter. Bank of New York Mellon Corp now owns 1,243,563 shares of the company’s stock valued at $47,517,000 after buying an additional 390,384 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Selective Insurance Group by 38.5% in the second quarter. Frontier Capital Management Co. LLC now owns 1,387,530 shares of the company’s stock valued at $53,018,000 after buying an additional 385,549 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Selective Insurance Group during the second quarter valued at about $13,667,000. Bank of Montreal Can purchased a new position in Selective Insurance Group during the second quarter valued at about $4,936,000. Finally, Phocas Financial Corp. purchased a new position in Selective Insurance Group during the first quarter valued at about $4,343,000. 76.74% of the stock is currently owned by hedge funds and other institutional investors.
Selective Insurance Group Inc. (NASDAQ:SIGI) traded down 1.81% during midday trading on Monday, reaching $39.14. The company’s stock had a trading volume of 81,536 shares. The company has a 50 day moving average of $39.61 and a 200-day moving average of $37.51. Selective Insurance Group Inc. has a 1-year low of $29.27 and a 1-year high of $41.30. The company has a market capitalization of $2.26 billion, a P/E ratio of 13.23 and a beta of 1.33.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ 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 company earned $568.70 million during the quarter, compared to analysts’ expectations of $569.77 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Selective Insurance Group Inc. will post $2.75 earnings per share for the current fiscal year.
Separately, Keefe, Bruyette & Woods set a $41.00 target price on Selective Insurance Group and gave the stock a “hold” rating in a research note on Monday, August 1st.
In other news, Director A David Brown sold 6,400 shares of Selective Insurance Group stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory E. Murphy sold 8,333 shares of Selective Insurance Group stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $39.50, for a total value of $329,153.50. The disclosure for this sale can be found here. 3.00% of the stock is owned by 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.
Want to see what other hedge funds are holding SIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Selective Insurance Group Inc. (NASDAQ:SIGI).
Receive News & Ratings for Selective Insurance Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.