California Public Employees Retirement System Has $5.47 Million Stake in Selective Insurance Group, Inc. (SIGI)

California Public Employees Retirement System grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,200 shares of the insurance provider’s stock after purchasing an additional 1,000 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Selective Insurance Group worth $5,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SIGI. UBS Asset Management Americas Inc. raised its stake in shares of Selective Insurance Group by 65.2% during the first quarter. UBS Asset Management Americas Inc. now owns 37,384 shares of the insurance provider’s stock valued at $1,763,000 after purchasing an additional 14,758 shares during the period. M&T Bank Corp purchased a new stake in shares of Selective Insurance Group during the first quarter valued at approximately $205,000. Victory Capital Management Inc. raised its stake in shares of Selective Insurance Group by 7.6% during the first quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock valued at $177,000 after purchasing an additional 265 shares during the period. United Services Automobile Association raised its stake in shares of Selective Insurance Group by 5.1% during the first quarter. United Services Automobile Association now owns 17,550 shares of the insurance provider’s stock valued at $827,000 after purchasing an additional 850 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Selective Insurance Group by 7.0% during the first quarter. OppenheimerFunds Inc. now owns 35,489 shares of the insurance provider’s stock valued at $1,673,000 after purchasing an additional 2,316 shares during the period. Institutional investors own 77.73% of the company’s stock.

Shares of Selective Insurance Group, Inc. (SIGI) opened at 54.40 on Wednesday. Selective Insurance Group, Inc. has a 52 week low of $34.95 and a 52 week high of $55.15. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 18.95 and a beta of 1.44. The company has a 50 day moving average of $51.87 and a 200-day moving average of $50.38.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The business had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Selective Insurance Group, Inc. will post $2.98 earnings per share for the current fiscal year.

In other news, Director Michael J. Morrissey sold 665 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.81, for a total transaction of $33,788.65. Following the completion of the transaction, the director now directly owns 15,177 shares in the company, valued at $771,143.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Morrissey sold 2,483 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $50.46, for a total value of $125,292.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,148 shares of company stock valued at $210,141. Corporate insiders own 3.00% of the company’s stock.

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A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price objective on shares of Selective Insurance Group in a research note on Wednesday, July 12th. Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Keefe, Bruyette & Woods set a $48.00 price target on shares of Selective Insurance Group and gave the stock a “hold” rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.91.

Selective Insurance Group Company 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.

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

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