New York State Common Retirement Fund Has $16.77 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

New York State Common Retirement Fund lifted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,741 shares of the insurance provider’s stock after buying an additional 16,689 shares during the period. New York State Common Retirement Fund’s holdings in Selective Insurance Group were worth $16,770,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SIGI. V Square Quantitative Management LLC acquired a new stake in Selective Insurance Group during the third quarter valued at $27,000. Quest Partners LLC acquired a new stake in Selective Insurance Group during the second quarter valued at $28,000. GAMMA Investing LLC boosted its position in Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 145 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Selective Insurance Group during the second quarter valued at $44,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Selective Insurance Group during the first quarter valued at $48,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at $1,476,759.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Selective Insurance Group Trading Up 0.2 %

Selective Insurance Group stock opened at $92.26 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The business’s 50-day simple moving average is $92.21 and its 200-day simple moving average is $92.96. The firm has a market capitalization of $5.61 billion, a PE ratio of 24.87, a PEG ratio of 1.55 and a beta of 0.57. Selective Insurance Group, Inc. has a 52 week low of $81.00 and a 52 week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. Equities research analysts forecast that Selective Insurance Group, Inc. will post 3.68 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.65%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, November 15th. Selective Insurance Group’s payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of analyst reports. Piper Sandler reduced their price target on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada boosted their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. Bank of America boosted their price target on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Selective Insurance Group has an average rating of “Hold” and a consensus target price of $101.67.

Selective Insurance Group 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.