Selective Insurance Group (SIGI) Holdings Increased by Martingale Asset Management L P

Martingale Asset Management L P grew its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 47.7% in the first quarter, Holdings Channel reports. The institutional investor owned 143,168 shares of the insurance provider’s stock after purchasing an additional 46,210 shares during the period. Martingale Asset Management L P’s holdings in Selective Insurance Group were worth $9,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SIGI. Janney Montgomery Scott LLC lifted its holdings in shares of Selective Insurance Group by 4.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,636 shares of the insurance provider’s stock valued at $283,000 after purchasing an additional 184 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Selective Insurance Group by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 19,875 shares of the insurance provider’s stock valued at $1,257,000 after purchasing an additional 185 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Selective Insurance Group by 0.3% in the 1st quarter. Arizona State Retirement System now owns 90,965 shares of the insurance provider’s stock valued at $5,756,000 after purchasing an additional 277 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Selective Insurance Group by 5.8% in the 4th quarter. Advisor Group Inc. now owns 5,474 shares of the insurance provider’s stock valued at $334,000 after purchasing an additional 298 shares during the last quarter. Finally, First National Bank of Omaha lifted its holdings in shares of Selective Insurance Group by 0.8% in the 1st quarter. First National Bank of Omaha now owns 41,159 shares of the insurance provider’s stock valued at $2,605,000 after purchasing an additional 311 shares during the last quarter. 78.75% of the stock is owned by institutional investors.

Several research firms have recently weighed in on SIGI. BidaskClub raised Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Zacks Investment Research downgraded Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.33.



In related news, EVP Michael H. Lanza sold 6,946 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $70.90, for a total value of $492,471.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Cynthia S. Nicholson sold 11,775 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $70.93, for a total value of $835,200.75. The disclosure for this sale can be found here. Insiders sold a total of 20,189 shares of company stock worth $1,432,062 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Shares of SIGI stock opened at $72.48 on Friday. The stock has a market capitalization of $4.29 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.62 and a beta of 0.99. Selective Insurance Group has a 52-week low of $54.70 and a 52-week high of $72.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The company had revenue of $699.00 million during the quarter, compared to analyst estimates of $697.30 million. Selective Insurance Group had a net margin of 8.32% and a return on equity of 13.72%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. As a group, equities research analysts forecast that Selective Insurance Group will post 4.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 21.86%.

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

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