Arizona State Retirement System increased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 1.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,224 shares of the insurance provider’s stock after buying an additional 233 shares during the period. Arizona State Retirement System’s holdings in Selective Insurance Group were worth $1,777,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Retirement Systems of Alabama raised its stake in Selective Insurance Group by 24.6% during the third quarter. Retirement Systems of Alabama now owns 147,624 shares of the insurance provider’s stock worth $15,230,000 after buying an additional 29,167 shares during the last quarter. Versor Investments LP acquired a new stake in Selective Insurance Group in the third quarter worth $557,000. Victory Capital Management Inc. grew its holdings in Selective Insurance Group by 4.5% in the third quarter. Victory Capital Management Inc. now owns 1,040,488 shares of the insurance provider’s stock worth $107,347,000 after purchasing an additional 44,968 shares during the period. California Public Employees Retirement System grew its holdings in Selective Insurance Group by 1.4% in the third quarter. California Public Employees Retirement System now owns 320,529 shares of the insurance provider’s stock worth $33,069,000 after purchasing an additional 4,378 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in Selective Insurance Group by 131.9% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 7,509 shares of the insurance provider’s stock worth $775,000 after purchasing an additional 4,271 shares during the period. Institutional investors own 83.66% of the company’s stock.
Insiders Place Their Bets
In other Selective Insurance Group news, CEO John J. Marchioni sold 20,906 shares of Selective Insurance Group stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $102.01, for a total value of $2,132,621.06. Following the sale, the chief executive officer now owns 120,554 shares of the company’s stock, valued at $12,297,713.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
Selective Insurance Group Stock Up 2.7 %
Selective Insurance Group stock opened at $99.39 on Friday. Selective Insurance Group, Inc. has a fifty-two week low of $88.60 and a fifty-two week high of $108.18. The stock has a market cap of $6.02 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 0.70 and a beta of 0.56. The firm’s 50-day simple moving average is $101.77 and its 200 day simple moving average is $102.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.31 and a current ratio of 0.30.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. During the same quarter last year, the firm posted $0.99 earnings per share. Research analysts predict that Selective Insurance Group, Inc. will post 7.63 EPS for the current fiscal year.
Selective Insurance Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Wednesday, February 14th. Selective Insurance Group’s dividend payout ratio is 24.01%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on SIGI shares. Oppenheimer started coverage on shares of Selective Insurance Group in a report on Thursday, November 16th. They issued an “outperform” rating and a $120.00 price target for the company. Royal Bank of Canada reduced their price target on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Piper Sandler reduced their price target on shares of Selective Insurance Group from $112.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $104.67.
Get Our Latest Research Report on Selective Insurance Group
About Selective Insurance Group
(Free Report)
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 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; 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; and flood insurance products.
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