Selective Insurance Group, Inc. (NASDAQ:SIGI) Holdings Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,336 shares of the insurance provider’s stock after selling 8,290 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Selective Insurance Group worth $7,992,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SIGI. Janiczek Wealth Management LLC grew its stake in Selective Insurance Group by 186.5% during the 3rd quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $26,000 after buying an additional 166 shares during the last quarter. Blue Trust Inc. grew its stake in Selective Insurance Group by 68.9% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Lazard Asset Management LLC bought a new position in Selective Insurance Group during the 3rd quarter worth $36,000. Headinvest LLC bought a new position in Selective Insurance Group during the 3rd quarter worth $62,000. Finally, Covestor Ltd grew its stake in Selective Insurance Group by 37.3% during the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock worth $67,000 after buying an additional 203 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

SIGI has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Finally, Royal Bank of Canada decreased their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and an average price target of $105.17.

Selective Insurance Group Trading Down 1.8 %

Shares of Selective Insurance Group stock opened at $102.15 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The business has a fifty day simple moving average of $103.44 and a 200-day simple moving average of $102.96. Selective Insurance Group, Inc. has a fifty-two week low of $91.99 and a fifty-two week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. On average, equities analysts forecast that Selective Insurance Group, Inc. will post 7.67 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.37%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.01%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.