First Citizens Bank & Trust Co. boosted its stake in shares of Selective Insurance Group (NASDAQ:SIGI) by 8.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,511 shares of the insurance provider’s stock after buying an additional 266 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Selective Insurance Group were worth $264,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SIGI. Meeder Asset Management Inc. purchased a new stake in Selective Insurance Group during the 3rd quarter valued at about $56,000. Royal Bank of Canada raised its position in Selective Insurance Group by 25.3% during the 2nd quarter. Royal Bank of Canada now owns 2,394 shares of the insurance provider’s stock valued at $179,000 after purchasing an additional 484 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Selective Insurance Group during the 2nd quarter valued at approximately $184,000. C M Bidwell & Associates Ltd. bought a new position in Selective Insurance Group during the 2nd quarter valued at approximately $191,000. Finally, BB&T Securities LLC bought a new position in Selective Insurance Group during the 2nd quarter valued at approximately $211,000. Institutional investors own 78.99% of the company’s stock.
In other Selective Insurance Group news, Director William M. Rue sold 7,795 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $77.64, for a total transaction of $605,203.80. Following the completion of the transaction, the director now owns 337,804 shares of the company’s stock, valued at approximately $26,227,102.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
A number of research analysts have commented on SIGI shares. ValuEngine lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Buckingham Research upped their price target on Selective Insurance Group from $73.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, BidaskClub lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $69.67.
SIGI opened at $75.38 on Monday. The business has a 50 day simple moving average of $76.04 and a two-hundred day simple moving average of $74.35. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. Selective Insurance Group has a one year low of $56.22 and a one year high of $81.35.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.10. The business had revenue of $708.20 million during the quarter, compared to analyst estimates of $707.83 million. Selective Insurance Group had a return on equity of 13.53% and a net margin of 8.65%. Selective Insurance Group’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, sell-side analysts expect that Selective Insurance Group will post 4.35 EPS for the current fiscal year.
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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