California State Teachers Retirement System Sells 2,930 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

California State Teachers Retirement System lowered its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGIFree Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,860 shares of the insurance provider’s stock after selling 2,930 shares during the period. California State Teachers Retirement System’s holdings in Selective Insurance Group were worth $6,353,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. lifted its stake in Selective Insurance Group by 7.9% during the fourth quarter. Eagle Asset Management Inc. now owns 147,465 shares of the insurance provider’s stock worth $14,670,000 after purchasing an additional 10,743 shares during the last quarter. UBS Group AG lifted its stake in shares of Selective Insurance Group by 17.9% in the 4th quarter. UBS Group AG now owns 87,302 shares of the insurance provider’s stock valued at $8,685,000 after acquiring an additional 13,237 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Selective Insurance Group by 6.3% in the 3rd quarter. Natixis Advisors L.P. now owns 89,197 shares of the insurance provider’s stock valued at $9,203,000 after acquiring an additional 5,289 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Selective Insurance Group by 1.8% in the 4th quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock valued at $97,791,000 after acquiring an additional 17,800 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Selective Insurance Group in the 4th quarter valued at about $3,851,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Up 0.1 %

Shares of NASDAQ:SIGI opened at $94.34 on Tuesday. Selective Insurance Group, Inc. has a 1 year low of $92.06 and a 1 year high of $109.58. The company has a market cap of $5.73 billion, a PE ratio of 16.67, a P/E/G ratio of 0.84 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50-day moving average is $99.23 and its 200 day moving average is $101.35.

Selective Insurance Group (NASDAQ:SIGIGet Free Report) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company posted $1.44 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 6.87 EPS for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.48%. Selective Insurance Group’s payout ratio is currently 24.74%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Piper Sandler reissued a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research note on Monday, April 1st. Finally, Oppenheimer reissued an “outperform” rating and issued 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 issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus price target of $105.17.

Get Our Latest Stock Analysis on Selective Insurance Group

Selective Insurance Group Profile

(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 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.

See Also

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Institutional Ownership by Quarter for Selective Insurance Group (NASDAQ:SIGI)

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