Krueger & Catalano Capital Partners LLC Reduces Stake in Selective Insurance Group (SIGI)

Krueger & Catalano Capital Partners LLC cut its stake in Selective Insurance Group (NASDAQ:SIGI) by 5.0% during the first quarter, Holdings Channel reports. The fund owned 28,882 shares of the insurance provider’s stock after selling 1,508 shares during the quarter. Selective Insurance Group comprises approximately 1.5% of Krueger & Catalano Capital Partners LLC’s holdings, making the stock its 26th biggest position. Krueger & Catalano Capital Partners LLC’s holdings in Selective Insurance Group were worth $1,828,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SIGI. Bank of New York Mellon Corp increased its stake in shares of Selective Insurance Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,061,088 shares of the insurance provider’s stock worth $67,379,000 after acquiring an additional 11,769 shares during the last quarter. FMR LLC acquired a new position in shares of Selective Insurance Group in the third quarter worth $114,000. Renaissance Technologies LLC increased its stake in shares of Selective Insurance Group by 667.3% in the third quarter. Renaissance Technologies LLC now owns 40,665 shares of the insurance provider’s stock worth $2,582,000 after acquiring an additional 35,365 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Selective Insurance Group in the third quarter worth $213,000. Finally, Man Group plc increased its stake in shares of Selective Insurance Group by 913.1% in the third quarter. Man Group plc now owns 76,263 shares of the insurance provider’s stock worth $4,843,000 after acquiring an additional 68,735 shares during the last quarter. 79.86% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. BidaskClub upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Finally, ValuEngine cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $65.33.

In related news, Director Paul D. Bauer sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $66.28, for a total value of $662,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Burville sold 3,614 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $66.27, for a total transaction of $239,499.78. The disclosure for this sale can be found here. Insiders sold 18,614 shares of company stock valued at $1,233,550 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:SIGI opened at $70.04 on Friday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.95. Selective Insurance Group has a 1 year low of $53.55 and a 1 year high of $70.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.31.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, January 31st. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.26. The firm had revenue of $680.90 million during the quarter, compared to analysts’ expectations of $661.70 million. Selective Insurance Group had a net margin of 6.92% and a return on equity of 12.69%. As a group, equities analysts anticipate that Selective Insurance Group will post 4.15 EPS for the current year.

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About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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