Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Selective Insurance Group (NASDAQ:SIGI) by 264.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 501,841 shares of the insurance provider’s stock after acquiring an additional 363,956 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Selective Insurance Group were worth $37,583,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Cambria Investment Management L.P. purchased a new position in Selective Insurance Group during the first quarter worth $147,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Selective Insurance Group in the second quarter worth about $184,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Selective Insurance Group in the second quarter worth about $191,000. BB&T Securities LLC acquired a new position in shares of Selective Insurance Group in the second quarter worth about $211,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Selective Insurance Group in the second quarter worth about $228,000. 79.06% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. BidaskClub cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday. Buckingham Research boosted their price target on Selective Insurance Group from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, ValuEngine cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $69.67.
Selective Insurance Group stock traded down $0.12 during midday trading on Friday, hitting $75.55. The stock had a trading volume of 8 shares, compared to its average volume of 234,661. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $4.46 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.63 and a beta of 0.82. Selective Insurance Group has a 12 month low of $56.22 and a 12 month high of $81.35. The business has a fifty day moving average price of $78.36 and a 200 day moving average price of $72.37.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.10. The firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. On average, equities analysts anticipate that Selective Insurance Group will post 4.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Wednesday, August 14th. Selective Insurance Group’s dividend payout ratio is currently 21.86%.
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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