State of Alaska Department of Revenue raised its position in Selective Insurance Group (NASDAQ:SIGI) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,875 shares of the insurance provider’s stock after purchasing an additional 185 shares during the period. State of Alaska Department of Revenue’s holdings in Selective Insurance Group were worth $1,257,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SIGI. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Selective Insurance Group during the 4th quarter valued at about $52,892,000. Norges Bank acquired a new position in shares of Selective Insurance Group during the 4th quarter valued at about $41,822,000. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Selective Insurance Group during the 4th quarter valued at about $11,517,000. Morgan Stanley increased its stake in shares of Selective Insurance Group by 75.1% during the 3rd quarter. Morgan Stanley now owns 262,022 shares of the insurance provider’s stock valued at $16,638,000 after acquiring an additional 112,412 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in shares of Selective Insurance Group by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 5,848,362 shares of the insurance provider’s stock valued at $371,372,000 after acquiring an additional 105,870 shares during the last quarter. Institutional investors own 79.86% of the company’s stock.
SIGI has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 9th. ValuEngine downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, Zacks Investment Research downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Selective Insurance Group has a consensus rating of “Hold” and a consensus price target of $65.33.
SIGI opened at $69.03 on Friday. The company has a market cap of $4.09 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.27 and a beta of 0.95. Selective Insurance Group has a 1 year low of $53.55 and a 1 year high of $69.32. 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 posted its earnings results 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 the consensus estimate of $661.70 million. Selective Insurance Group had a net margin of 6.92% and a return on equity of 12.69%. On average, analysts expect that Selective Insurance Group will post 4.2 earnings per share for the current year.
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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