Selective Insurance Group, Inc. $SIGI Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,066 shares of the insurance provider’s stock after purchasing an additional 2,745 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of Selective Insurance Group worth $6,591,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Olde Wealth Management LLC purchased a new stake in shares of Selective Insurance Group in the first quarter valued at about $28,000. Parallel Advisors LLC lifted its stake in Selective Insurance Group by 219.5% during the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Amundi boosted its stake in Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Selective Insurance Group in the 1st quarter valued at $38,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of Selective Insurance Group in the 1st quarter valued at approximately $41,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

SIGI stock opened at $79.84 on Monday. The stock has a market cap of $4.86 billion, a P/E ratio of 13.07 and a beta of 0.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $103.56. The firm has a 50 day simple moving average of $79.01 and a 200 day simple moving average of $84.66.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. Morgan Stanley lowered shares of Selective Insurance Group from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $86.00 to $72.00 in a report on Tuesday, August 5th. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, Piper Sandler lowered their price objective on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $87.33.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, EVP Joseph Eppers acquired 1,402 shares of Selective Insurance Group stock in a transaction dated Friday, July 25th. The stock was bought at an average cost of $76.82 per share, for a total transaction of $107,701.64. Following the purchase, the executive vice president directly owned 12,492 shares in the company, valued at approximately $959,635.44. This represents a 12.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas A. Mccarthy acquired 2,500 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was acquired at an average cost of $77.42 per share, with a total value of $193,550.00. Following the completion of the transaction, the director owned 18,746 shares of the company’s stock, valued at approximately $1,451,315.32. The trade was a 15.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 10,602 shares of company stock valued at $817,440 over the last 90 days. Company insiders own 1.00% of the company’s stock.

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.