Public Employees Retirement System of Ohio Purchases 6,353 Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI)

Public Employees Retirement System of Ohio grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 82,368 shares of the insurance provider’s stock after purchasing an additional 6,353 shares during the period. Public Employees Retirement System of Ohio’s holdings in Selective Insurance Group were worth $7,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindenwold Advisors INC boosted its position in Selective Insurance Group by 5.4% during the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock worth $277,000 after buying an additional 153 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Selective Insurance Group by 3.1% during the third quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider’s stock worth $476,000 after purchasing an additional 155 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Selective Insurance Group by 2.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider’s stock worth $705,000 after purchasing an additional 205 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Selective Insurance Group by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider’s stock worth $1,262,000 after purchasing an additional 266 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Selective Insurance Group by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider’s stock worth $1,415,000 after buying an additional 277 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were 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 of the company’s stock, valued at $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SIGI. Royal Bank of Canada increased their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Bank of America upped their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Finally, Morgan Stanley assumed coverage on shares of Selective Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.14.

Selective Insurance Group Trading Up 0.4 %

NASDAQ SIGI opened at $96.51 on Friday. Selective Insurance Group, Inc. has a one year low of $81.00 and a one year high of $109.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50 day simple moving average of $96.47 and a 200 day simple moving average of $93.04. The stock has a market capitalization of $5.87 billion, a P/E ratio of 26.01 and a beta of 0.60.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. Research analysts expect that Selective Insurance Group, Inc. will post 3.62 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.57%. Selective Insurance Group’s dividend payout ratio is presently 40.97%.

Selective Insurance Group Company 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.