Public Employees Retirement System of Ohio Purchases New Shares in Selective Insurance Group, Inc. $SIGI

Public Employees Retirement System of Ohio acquired a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,012 shares of the insurance provider’s stock, valued at approximately $777,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Selective Insurance Group during the 2nd quarter valued at about $754,557,000. AQR Capital Management LLC increased its stake in Selective Insurance Group by 56.3% during the fourth quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock worth $339,662,000 after acquiring an additional 1,462,838 shares during the last quarter. Geode Capital Management LLC raised its position in Selective Insurance Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,660,758 shares of the insurance provider’s stock valued at $138,976,000 after purchasing an additional 8,580 shares during the period. First Trust Advisors LP lifted its stake in shares of Selective Insurance Group by 33.3% in the 1st quarter. First Trust Advisors LP now owns 1,381,867 shares of the insurance provider’s stock valued at $104,179,000 after purchasing an additional 345,348 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Selective Insurance Group by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock worth $102,473,000 after purchasing an additional 44,532 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Selective Insurance Group news, EVP Michael Lanza sold 17,100 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the transaction, the executive vice president directly owned 16,565 shares in the company, valued at $1,557,772.60. This trade represents a 50.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Selective Insurance Group Trading Down 0.9%

NASDAQ SIGI opened at $90.12 on Thursday. The stock has a market cap of $5.37 billion, a PE ratio of 11.18 and a beta of 0.29. Selective Insurance Group, Inc. has a 12 month low of $72.78 and a 12 month high of $100.40. The company’s 50-day moving average price is $94.53 and its 200-day moving average price is $87.86. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm earned $1.31 EPS. Equities research analysts forecast that Selective Insurance Group, Inc. will post 8.12 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a $0.43 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.72 annualized dividend and a yield of 1.9%. Selective Insurance Group’s dividend payout ratio is 21.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SIGI shares. Royal Bank Of Canada raised their price target on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Morgan Stanley increased their target price on shares of Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their price target on shares of Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price target on the stock. in a report on Tuesday, July 28th. Finally, Oppenheimer increased their price objective on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.33.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.