SG Americas Securities LLC Sells 7,748 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

SG Americas Securities LLC lowered its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 69.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,390 shares of the insurance provider’s stock after selling 7,748 shares during the period. SG Americas Securities LLC’s holdings in Selective Insurance Group were worth $316,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Selective Insurance Group by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock valued at $717,735,000 after acquiring an additional 367,987 shares during the period. Dimensional Fund Advisors LP increased its holdings in Selective Insurance Group by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,416,957 shares of the insurance provider’s stock valued at $132,949,000 after buying an additional 62,699 shares during the period. Boston Trust Walden Corp raised its position in shares of Selective Insurance Group by 1.2% in the 2nd quarter. Boston Trust Walden Corp now owns 988,846 shares of the insurance provider’s stock valued at $92,783,000 after buying an additional 11,327 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Selective Insurance Group by 6.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 616,901 shares of the insurance provider’s stock worth $57,883,000 after acquiring an additional 38,400 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Selective Insurance Group during the 1st quarter worth approximately $55,468,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 0.2 %

Shares of NASDAQ SIGI opened at $98.68 on Friday. Selective Insurance Group, Inc. has a 1 year low of $81.00 and a 1 year high of $109.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $6.00 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.58 and a beta of 0.56. The company has a 50 day simple moving average of $91.17 and a 200 day simple moving average of $93.88.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. During the same quarter last year, the firm posted $0.99 EPS. On average, research analysts forecast that Selective Insurance Group, Inc. will post 3.83 EPS for the current year.

Insider Activity

In other news, CEO John J. Marchioni bought 2,400 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was acquired at an average price of $83.56 per share, with a total value of $200,544.00. Following the transaction, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Selective Insurance Group news, CEO John J. Marchioni purchased 2,400 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was purchased at an average cost of $83.56 per share, for a total transaction of $200,544.00. Following the acquisition, the chief executive officer now owns 136,397 shares in the company, valued at approximately $11,397,333.32. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terrence W. Cavanaugh acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $85.85 per share, for a total transaction of $171,700.00. Following the completion of the purchase, the director now directly owns 20,651 shares in the company, valued at $1,772,888.35. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SIGI. BMO Capital Markets raised their target price on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Royal Bank of Canada lowered their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. Bank of America lifted their price target on shares of Selective Insurance Group from $89.00 to $96.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.50.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.