Texas Permanent School Fund Corp Grows Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Texas Permanent School Fund Corp boosted its holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.4% in the 1st quarter, Holdings Channel reports. The firm owned 53,073 shares of the insurance provider’s stock after purchasing an additional 733 shares during the period. Texas Permanent School Fund Corp’s holdings in Selective Insurance Group were worth $5,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Michigan Retirement System raised its position in Selective Insurance Group by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider’s stock valued at $1,451,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. increased its stake in Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the period. Apollon Wealth Management LLC increased its stake in Selective Insurance Group by 2.0% in the 4th quarter. Apollon Wealth Management LLC now owns 5,628 shares of the insurance provider’s stock valued at $560,000 after buying an additional 109 shares during the period. Teacher Retirement System of Texas increased its stake in Selective Insurance Group by 0.5% in the 4th quarter. Teacher Retirement System of Texas now owns 27,092 shares of the insurance provider’s stock valued at $2,695,000 after buying an additional 123 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in Selective Insurance Group by 0.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 32,436 shares of the insurance provider’s stock valued at $3,227,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 1.6 %

Shares of SIGI stock traded up $1.50 during trading hours on Friday, hitting $96.39. 23,401 shares of the company were exchanged, compared to its average volume of 309,014. The firm has a market cap of $5.86 billion, a PE ratio of 16.77, a PEG ratio of 0.84 and a beta of 0.54. Selective Insurance Group, Inc. has a 1 year low of $89.78 and a 1 year high of $109.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $94.63 and a 200 day moving average of $99.90.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. Analysts expect that Selective Insurance Group, Inc. will post 6.8 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a research note on Friday, April 5th. Bank of America dropped their price objective on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research note on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and set a $104.00 price target on shares of Selective Insurance Group in a research note on Monday, April 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $103.00 price target on shares of Selective Insurance Group in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $106.60.

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.