Alps Advisors Inc. cut its stake in Selective Insurance Group Inc. (NASDAQ:SIGI) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 11,482 shares of the company’s stock after selling 843 shares during the period. Alps Advisors Inc.’s holdings in Selective Insurance Group were worth $439,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Selective Insurance Group by 112.7% in the first quarter. BlackRock Inc. now owns 3,815 shares of the company’s stock valued at $140,000 after buying an additional 2,021 shares during the last quarter. 1st Global Advisors Inc. purchased a new stake in Selective Insurance Group during the second quarter valued at about $204,000. Boothbay Fund Management LLC purchased a new stake in Selective Insurance Group during the first quarter valued at about $312,000. Cohen Lawrence B purchased a new stake in Selective Insurance Group during the second quarter valued at about $348,000. Finally, Eqis Capital Management Inc. raised its stake in Selective Insurance Group by 10.8% in the second quarter. Eqis Capital Management Inc. now owns 10,413 shares of the company’s stock valued at $398,000 after buying an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 76.74% of the company’s stock.
Selective Insurance Group Inc. (NASDAQ:SIGI) traded down 0.54% during trading on Thursday, reaching $38.70. 183,872 shares of the company traded hands. The company’s 50-day moving average price is $39.64 and its 200 day moving average price is $37.62. Selective Insurance Group Inc. has a 52 week low of $29.27 and a 52 week high of $41.30. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.08 and a beta of 1.33.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Selective Insurance Group had a return on equity of 12.11% and a net margin of 7.84%. The company earned $568.70 million during the quarter, compared to analyst estimates of $569.77 million. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Selective Insurance Group Inc. will post $2.75 EPS for the current year.
Separately, Keefe, Bruyette & Woods set a $41.00 price target on shares of Selective Insurance Group and gave the company a “hold” rating in a research report on Monday, August 1st.
In other Selective Insurance Group news, CEO Gregory E. Murphy sold 8,333 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $38.97, for a total transaction of $324,737.01. Following the completion of the transaction, the chief executive officer now owns 277,046 shares of the company’s stock, valued at $10,796,482.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Rue sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $38.41, for a total value of $960,250.00. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.
About Selective Insurance Group
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.