Selective Insurance Group (NASDAQ:SIGI) Short Interest Update

Share on StockTwits

Selective Insurance Group (NASDAQ:SIGI) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 631,700 shares, a growth of 11.7% from the December 15th total of 565,600 shares. Based on an average daily trading volume, of 290,400 shares, the short-interest ratio is currently 2.2 days. Approximately 1.1% of the company’s stock are short sold.

Several research firms recently issued reports on SIGI. ValuEngine raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub lowered shares of Selective Insurance Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $74.00.

In related news, Director Terrence W. Cavanaugh bought 1,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was bought at an average price of $65.00 per share, with a total value of $65,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board acquired a new stake in Selective Insurance Group during the 3rd quarter valued at $759,000. EP Wealth Advisors LLC grew its holdings in Selective Insurance Group by 4.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,346 shares of the insurance provider’s stock worth $251,000 after acquiring an additional 147 shares during the last quarter. BB&T Securities LLC grew its holdings in Selective Insurance Group by 9.5% during the 3rd quarter. BB&T Securities LLC now owns 3,087 shares of the insurance provider’s stock worth $234,000 after acquiring an additional 267 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Selective Insurance Group by 3.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 98,389 shares of the insurance provider’s stock worth $7,397,000 after acquiring an additional 3,008 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in Selective Insurance Group by 57.5% in the 3rd quarter. Mason Street Advisors LLC now owns 31,135 shares of the insurance provider’s stock valued at $2,341,000 after acquiring an additional 11,364 shares in the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.

SIGI traded up $0.19 on Thursday, hitting $67.55. 3,308 shares of the stock traded hands, compared to its average volume of 214,771. Selective Insurance Group has a 52 week low of $58.85 and a 52 week high of $81.35. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.95 billion, a PE ratio of 18.49, a P/E/G ratio of 2.10 and a beta of 0.69. The business has a fifty day moving average price of $66.01 and a two-hundred day moving average price of $72.68.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.14). Selective Insurance Group had a return on equity of 12.83% and a net margin of 8.53%. The firm had revenue of $710.40 million during the quarter, compared to the consensus estimate of $718.14 million. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Selective Insurance Group will post 4.18 EPS for the current fiscal year.

About Selective Insurance Group

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.

Featured Story: What member countries make up the G-20?

Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.