Rhumbline Advisers increased its holdings in Selective Insurance Group (NASDAQ:SIGI) by 1.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 183,302 shares of the insurance provider’s stock after purchasing an additional 2,471 shares during the quarter. Rhumbline Advisers’ holdings in Selective Insurance Group were worth $11,599,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its position in shares of Selective Insurance Group by 224.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 457 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. Sageworth Trust Co acquired a new position in shares of Selective Insurance Group during the first quarter worth $33,000. Private Capital Group LLC increased its position in shares of Selective Insurance Group by 55.5% during the fourth quarter. Private Capital Group LLC now owns 1,056 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 377 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Selective Insurance Group by 442.7% during the first quarter. Quadrant Capital Group LLC now owns 1,118 shares of the insurance provider’s stock worth $67,000 after purchasing an additional 912 shares in the last quarter. Finally, Bruderman Asset Management LLC acquired a new position in shares of Selective Insurance Group during the fourth quarter worth $101,000. 79.70% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on the company. BidaskClub raised Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, May 2nd. Zacks Investment Research raised Selective Insurance Group from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Tuesday, February 12th. Finally, ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $65.33.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $697.30 million. Selective Insurance Group had a net margin of 8.32% and a return on equity of 13.72%. Selective Insurance Group’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. Sell-side analysts anticipate that Selective Insurance Group will post 4.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 21.86%.
In other news, Director Paul D. Bauer sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $66.28, for a total transaction of $662,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cynthia S. Nicholson sold 1,468 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $71.11, for a total transaction of $104,389.48. Following the sale, the director now directly owns 19,859 shares in the company, valued at $1,412,173.49. The disclosure for this sale can be found here. Insiders have sold 38,803 shares of company stock worth $2,665,611 over the last three months. Corporate insiders own 2.00% of the company’s stock.
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Selective Insurance Group Company Profile
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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