California State Teachers Retirement System raised its holdings in shares of Selective Insurance Group (NASDAQ:SIGI) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,974 shares of the insurance provider’s stock after acquiring an additional 2,156 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Selective Insurance Group worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Csenge Advisory Group purchased a new position in shares of Selective Insurance Group during the 3rd quarter valued at $56,000. Private Capital Group LLC grew its position in Selective Insurance Group by 55.5% in the fourth quarter. Private Capital Group LLC now owns 1,056 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 377 shares in the last quarter. Bruderman Asset Management LLC purchased a new position in Selective Insurance Group in the fourth quarter worth $101,000. First Quadrant L P CA purchased a new position in Selective Insurance Group in the fourth quarter worth $108,000. Finally, FMR LLC purchased a new position in Selective Insurance Group in the third quarter worth $114,000. 80.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:SIGI opened at $63.20 on Tuesday. Selective Insurance Group has a 52-week low of $53.55 and a 52-week high of $67.72. The firm has a market capitalization of $3.68 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.17 and a beta of 0.96. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Thursday, January 31st. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.26. Selective Insurance Group had a net margin of 6.92% and a return on equity of 12.69%. The company had revenue of $680.90 million during the quarter, compared to analyst estimates of $661.70 million. Sell-side analysts predict that Selective Insurance Group will post 4.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.80 annualized dividend and a yield of 1.27%. Selective Insurance Group’s payout ratio is 21.86%.

In other Selective Insurance Group news, Director Paul D. Bauer sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $66.28, for a total transaction of $662,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory E. Murphy sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.25, for a total transaction of $331,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,614 shares of company stock valued at $1,233,550. Company insiders own 2.00% of the company’s stock.

Several brokerages recently issued reports on SIGI. Zacks Investment Research upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, February 12th. BidaskClub lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Buckingham Research began coverage on shares of Selective Insurance Group in a research report on Friday, December 14th. They issued a “neutral” rating and a $62.00 target price for the company. Finally, ValuEngine lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $64.25.

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Selective Insurance Group Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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

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