Short Interest Alert: A Reversal for Selective Insurance Group Incorporated (NASDAQ:SIGI) Is Not Near. The Stock Has Rise in Shorts

November 15, 2016 - By Ruchi Gupta   ·   0 Comments

Short Interest Alert: A Reversal for Selective Insurance Group Incorporated (NASDAQ:SIGI) Is Not Near. The Stock Has Rise in Shorts

The stock of Selective Insurance Group Incorporated (NASDAQ:SIGI) registered an increase of 13.61% in short interest. SIGI’s total short interest was 798,700 shares in November as published by FINRA. Its up 13.61% from 703,000 shares, reported previously. With 179,400 shares average volume, it will take short sellers 5 days to cover their SIGI’s short positions. The short interest to Selective Insurance Group Incorporated’s float is 1.41%. About 114,078 shares traded hands. Selective Insurance Group (NASDAQ:SIGI) has risen 14.00% since April 13, 2016 and is uptrending. It has outperformed by 10.07% the S&P500.

Selective Insurance Group, Inc. is a holding firm with insurance subsidiaries. The company has a market cap of $2.37 billion. The Firm operates its business through four divisions: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. It has a 14.31 P/E ratio. The Company’s Standard Commercial Lines segment consists of insurance services and products provided in the standard marketplace to its commercial customers, including businesses and local government agencies.

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.42, from 1.24 in 2016Q1. The ratio dived, as 14 funds sold all Selective Insurance Group shares owned while 81 reduced positions. 16 funds bought stakes while 62 increased positions. They now own 42.44 million shares or 8.31% less from 46.29 million shares in 2016Q1.
Suntrust Banks holds 0% or 10,305 shares in its portfolio. Proshare Advsr Limited Company owns 8,245 shares or 0% of their US portfolio. Mckinley Capital Ltd Llc Delaware last reported 110,477 shares in the company. Amp Capital Invsts Ltd holds 0% or 7,527 shares in its portfolio. Stifel Fincl holds 0.02% of its portfolio in Selective Insurance Group (NASDAQ:SIGI) for 133,327 shares. Arizona State Retirement Sys holds 0.02% of its portfolio in Selective Insurance Group (NASDAQ:SIGI) for 29,935 shares. Moreover, Glenmede Na has 0% invested in Selective Insurance Group (NASDAQ:SIGI) for 13,734 shares. Geode Cap Mgmt Limited has 550,266 shares for 0.01% of their US portfolio. Thomson Horstmann And Bryant Inc holds 26,847 shares or 0.13% of its portfolio. Citadel Limited Liability Company holds 0.01% of its portfolio in Selective Insurance Group (NASDAQ:SIGI) for 152,735 shares. Morgan Stanley has 118,807 shares for 0% of their US portfolio. The New York-based Tompkins Financial has invested 0.02% in Selective Insurance Group (NASDAQ:SIGI). Moreover, Metropolitan Life Ins Co New York has 0.01% invested in Selective Insurance Group (NASDAQ:SIGI) for 40,138 shares. The California-based Affinity Investment Advsrs has invested 0.02% in Selective Insurance Group (NASDAQ:SIGI). Grantham Mayo Van Otterloo And Limited Liability Corporation has 111,312 shares for 0.02% of their US portfolio.

Insider Transactions: Since May 27, 2016, the stock had 1 insider buy, and 16 selling transactions for $6.24 million net activity. DOHERTY ROBERT KELLY bought $107,996 worth of Selective Insurance Group (NASDAQ:SIGI) on Wednesday, November 9. Shares for $370,435 were sold by THATCHER DALE A on Friday, May 27. $55,500 worth of Selective Insurance Group (NASDAQ:SIGI) shares were sold by BAUER PAUL D. 8,333 shares with value of $324,760 were sold by MURPHY GREGORY E on Monday, August 1. $960,250 worth of Selective Insurance Group (NASDAQ:SIGI) shares were sold by RUE WILLIAM M. BROWN A DAVID sold $251,102 worth of stock. $123,681 worth of shares were sold by O KELLEY RONALD L on Tuesday, June 7.

Selective Insurance Group (NASDAQ:SIGI) Ratings Coverage

Out of 2 analysts covering Selective Insurance (NASDAQ:SIGI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Selective Insurance has been the topic of 3 analyst reports since July 31, 2015 according to StockzIntelligence Inc. On Wednesday, May 4 the stock rating was reinitiated by Wood with “Market Perform”. RBC Capital Markets maintained it with “Outperform” rating and $34 target price in Friday, July 31 report. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, October 30.

SIGI Company Profile

Selective Insurance Group, Inc., incorporated in August 1977, is a holding firm with insurance subsidiaries. The Firm has 10 insurance subsidiaries, nine of which are licensed by various state departments of insurance to write specific lines of property and casualty insurance business in the standard market. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market. The Firm operates its business through four divisions: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The Company’s Standard Commercial Lines segment consists of insurance services and products provided in the standard marketplace to its commercial customers, including businesses, non-profit organizations, and local government agencies. The Company’s Standard Personal Lines segment consists of insurance services and products, including flood insurance coverage that it writes through the National Flood Insurance Program (NFIP), provided primarily to individuals acquiring coverage in the standard marketplace. The Company’s E&S Lines segment consists of insurance services and products provided to clients who have not obtained coverage in the standard marketplace. It only writes commercial lines E&S coverages. The Company’s investment segment invests insurance premiums, as well as amounts generated through its capital management strategies, which includes the issuance of debt and equity securities, to generate investment income and to satisfy obligations to its customers, its shareholders, and its debt holders, among others.

More notable recent Selective Insurance Group (NASDAQ:SIGI) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: TCF Financial, Selective Insurance Group and PacWest Bancorp” on November 08, 2016, also Prnewswire.com with their article: “Selective Insurance Names Mark Wilcox Chief Financial Officer” published on October 31, 2016, Insurancejournal.com published: “New Jersey’s Selective Insurance Group Hires Wilcox to Succeed CFO” on November 01, 2016. More interesting news about Selective Insurance Group (NASDAQ:SIGI) were released by: Blogs.Wsj.com and their article: “CFO Moves: Selective Insurance, Nature’s Sunshine, Exterran” published on November 01, 2016 as well as Nasdaq.com‘s news article titled: “Selective Insurance Group Breaks Below 200-Day Moving Average – Notable for SIGI” with publication date: October 27, 2016.

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By Ruchi Gupta


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