Systematic Financial Management LP Has $28.71 Million Position in Selective Insurance Group, Inc. (SIGI)

Systematic Financial Management LP cut its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,067 shares of the insurance provider’s stock after selling 18,078 shares during the quarter. Systematic Financial Management LP owned about 0.91% of Selective Insurance Group worth $28,706,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SIGI. LS Investment Advisors LLC grew its stake in shares of Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after buying an additional 106 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Selective Insurance Group by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after buying an additional 23 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Selective Insurance Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock valued at $126,000 after buying an additional 204 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Selective Insurance Group by 41.3% in the second quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock valued at $182,000 after buying an additional 1,061 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Selective Insurance Group during the 2nd quarter valued at $199,000. 76.19% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods set a $55.00 price target on Selective Insurance Group and gave the company a “hold” rating in a report on Sunday, October 29th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $55.00 price target on shares of Selective Insurance Group in a report on Friday, October 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Friday, October 27th. Zacks Investment Research downgraded Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Saturday, October 14th. Finally, ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $49.91.

In related news, Director John Burville sold 6,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $59.00, for a total value of $354,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Morrissey sold 665 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $50.81, for a total value of $33,788.65. Following the completion of the transaction, the director now directly owns 15,177 shares of the company’s stock, valued at approximately $771,143.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,265 shares of company stock valued at $892,469. 3.00% of the stock is owned by insiders.

Selective Insurance Group, Inc. (NASDAQ:SIGI) traded up $0.35 on Tuesday, hitting $59.25. The stock had a trading volume of 222,900 shares, compared to its average volume of 223,362. Selective Insurance Group, Inc. has a 12 month low of $38.50 and a 12 month high of $60.50. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3,470.00, a P/E ratio of 19.57, a P/E/G ratio of 1.57 and a beta of 1.46.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.10. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The company had revenue of $621.30 million during the quarter, compared to the consensus estimate of $625.80 million. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. sell-side analysts expect that Selective Insurance Group, Inc. will post 3.08 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.16. Selective Insurance Group’s dividend payout ratio (DPR) is currently 23.92%.

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Selective Insurance Group Profile

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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