Public Employees Retirement System of Ohio Buys New Position in Selective Insurance Group, Inc. $SIGI

Public Employees Retirement System of Ohio purchased a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,012 shares of the insurance provider’s stock, valued at approximately $777,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at $25,000. Los Angeles Capital Management LLC bought a new position in Selective Insurance Group in the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Selective Insurance Group in the 2nd quarter worth $26,000. Amundi lifted its position in Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Selective Insurance Group by 177.5% during the fourth quarter. IFP Advisors Inc now owns 591 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SIGI shares. Keefe, Bruyette & Woods raised their price objective on Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Royal Bank Of Canada boosted their price objective on Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Weiss Ratings lowered shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. Oppenheimer raised their target price on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Finally, BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price target on the stock. in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $100.33.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $90.12 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group, Inc. has a twelve month low of $72.78 and a twelve month high of $100.40. The business has a 50-day moving average price of $94.53 and a 200-day moving average price of $87.86. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 11.18 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm earned $1.31 EPS. As a group, equities research analysts predict that Selective Insurance Group, Inc. will post 8.12 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 17th. Selective Insurance Group’s payout ratio is 21.34%.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, EVP Michael Lanza sold 17,100 shares of Selective Insurance Group stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total value of $1,608,084.00. Following the sale, the executive vice president directly owned 16,565 shares in the company, valued at approximately $1,557,772.60. The trade was a 50.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.