Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 323,998 shares of the insurance provider’s stock after purchasing an additional 3,469 shares during the quarter. California Public Employees Retirement System owned approximately 0.53% of Selective Insurance Group worth $32,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Selective Insurance Group by 68.9% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Headinvest LLC acquired a new position in Selective Insurance Group during the third quarter worth about $62,000. Morton Brown Family Wealth LLC acquired a new position in Selective Insurance Group during the fourth quarter worth about $82,000. Fifth Third Bancorp boosted its position in Selective Insurance Group by 12.3% during the third quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider’s stock worth $121,000 after acquiring an additional 128 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Selective Insurance Group by 15.3% during the third quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider’s stock worth $177,000 after acquiring an additional 228 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $100.13 on Friday. The company’s 50 day simple moving average is $103.72 and its 200-day simple moving average is $102.78. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. Selective Insurance Group, Inc. has a 1 year low of $91.99 and a 1 year high of $109.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results 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. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. As a group, equities research analysts expect that Selective Insurance Group, Inc. will post 7.67 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 24.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SIGI shares. Piper Sandler restated a “neutral” rating and set a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. Keefe, Bruyette & Woods reduced 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 note on Tuesday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Royal Bank of Canada reduced their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Selective Insurance Group has an average rating of “Hold” and an average price target of $105.17.

Insider Activity

In other news, COO Brenda M. Hall sold 2,626 shares of the business’s 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 sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

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.