Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,932 shares of the insurance provider’s stock after selling 292 shares during the quarter. Arizona State Retirement System’s holdings in Selective Insurance Group were worth $1,684,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Janiczek Wealth Management LLC lifted its holdings in Selective Insurance Group by 186.5% in 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 in the last quarter. Blue Trust Inc. lifted its holdings in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the period. Lazard Asset Management LLC bought a new stake in Selective Insurance Group during the third quarter worth approximately $36,000. Headinvest LLC purchased a new stake in shares of Selective Insurance Group during the third quarter valued at $62,000. Finally, Covestor Ltd raised its holdings 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 period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Insider Buying and Selling

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction that occurred on Monday, March 4th. The shares were 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 directly owns 10,511 shares in the company, valued at $1,112,904.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Selective Insurance Group Trading Down 0.9 %

Shares of NASDAQ:SIGI opened at $101.19 on Friday. Selective Insurance Group, Inc. has a 12-month low of $91.99 and a 12-month high of $109.58. 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 capitalization of $6.15 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The firm has a fifty day moving average of $103.48 and a two-hundred day moving average of $102.93.

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

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid 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 1.38%. Selective Insurance Group’s payout ratio is 24.01%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SIGI shares. Keefe, Bruyette & Woods dropped their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. Piper Sandler reissued a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research note on Monday, April 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. Finally, Royal Bank of Canada dropped their price target on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and a consensus target price of $105.17.

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.