Teacher Retirement System of Texas Has $6.61 Million Position in Selective Insurance Group, Inc. $SIGI

Teacher Retirement System of Texas increased its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,332 shares of the insurance provider’s stock after purchasing an additional 5,280 shares during the period. Teacher Retirement System of Texas owned approximately 0.13% of Selective Insurance Group worth $6,614,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC raised its holdings in Selective Insurance Group by 3.0% during the 1st quarter. Frank Rimerman Advisors LLC now owns 4,728 shares of the insurance provider’s stock worth $433,000 after buying an additional 136 shares during the period. Martingale Asset Management L P increased its position in shares of Selective Insurance Group by 0.5% during the first quarter. Martingale Asset Management L P now owns 28,140 shares of the insurance provider’s stock worth $2,576,000 after acquiring an additional 141 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Selective Insurance Group by 16.3% during the second quarter. UMB Bank n.a. now owns 1,079 shares of the insurance provider’s stock worth $93,000 after acquiring an additional 151 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Selective Insurance Group by 1.7% during the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock worth $922,000 after acquiring an additional 173 shares during the period. Finally, Resona Asset Management Co. Ltd. lifted its position in Selective Insurance Group by 3.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 5,134 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 193 shares in the last quarter. 82.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SIGI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Piper Sandler dropped their target price on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Keefe, Bruyette & Woods cut their target price on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a research note on Friday, October 24th. Finally, BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a research report on Tuesday. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Selective Insurance Group currently has a consensus rating of “Reduce” and an average price target of $78.75.

Selective Insurance Group Trading Up 1.8%

NASDAQ SIGI opened at $75.99 on Friday. Selective Insurance Group, Inc. has a 12 month low of $71.75 and a 12 month high of $103.56. The company has a current ratio of 0.32, a quick ratio of 0.33 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $79.68 and a 200-day moving average of $83.42. The company has a market cap of $4.59 billion, a PE ratio of 11.71 and a beta of 0.39.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.35 billion. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.43 dividend. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 14th. This represents a $1.72 annualized dividend and a yield of 2.3%. Selective Insurance Group’s dividend payout ratio (DPR) is 23.42%.

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.