Public Employees Retirement System of Ohio raised its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 170.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,144 shares of the insurance provider’s stock after acquiring an additional 27,213 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Selective Insurance Group were worth $2,373,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of SIGI. Quantbot Technologies LP bought a new position in shares of Selective Insurance Group during the 1st quarter worth approximately $141,000. Neuberger Berman Group LLC bought a new position in shares of Selective Insurance Group during the 1st quarter worth approximately $203,000. First Citizens Bank & Trust Co. bought a new position in shares of Selective Insurance Group during the 2nd quarter worth approximately $235,000. Xact Kapitalforvaltning AB grew its stake in shares of Selective Insurance Group by 55.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,316 shares of the insurance provider’s stock worth $444,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Neuburgh Advisers LLC grew its stake in shares of Selective Insurance Group by 10.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 9,418 shares of the insurance provider’s stock worth $518,000 after acquiring an additional 884 shares in the last quarter. 78.39% of the stock is owned by institutional investors.
In other Selective Insurance Group news, Director Terrence W. Cavanaugh purchased 1,000 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was acquired at an average price of $61.47 per share, with a total value of $61,470.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Morrissey sold 1,575 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $63.72, for a total value of $100,359.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Several research firms recently weighed in on SIGI. Zacks Investment Research raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Wednesday, June 13th. Credit Suisse Group began coverage on shares of Selective Insurance Group in a research note on Tuesday, August 7th. They issued an “underperform” rating and a $54.00 target price for the company. BidaskClub raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, August 2nd. Finally, ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Selective Insurance Group currently has an average rating of “Hold” and a consensus target price of $60.40.
NASDAQ:SIGI opened at $61.01 on Tuesday. Selective Insurance Group has a 1-year low of $53.55 and a 1-year high of $65.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $3.74 billion, a P/E ratio of 19.62, a PEG ratio of 1.11 and a beta of 1.26.
Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, August 1st. The insurance provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.13. Selective Insurance Group had a net margin of 6.10% and a return on equity of 10.69%. The business had revenue of $651.90 million during the quarter, compared to analysts’ expectations of $650.57 million. During the same period last year, the business earned $0.68 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Selective Insurance Group will post 3.53 EPS 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 in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) 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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