Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.7% during the 3rd quarter, Holdings Channel reports. The fund owned 19,086 shares of the insurance provider’s stock after selling 530 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Selective Insurance Group were worth $1,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in Selective Insurance Group in the 3rd quarter valued at about $27,000. Quest Partners LLC purchased a new stake in shares of Selective Insurance Group during the second quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Selective Insurance Group in the second quarter valued at approximately $44,000. KBC Group NV lifted its stake in Selective Insurance Group by 18.1% in the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock worth $172,000 after acquiring an additional 282 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Selective Insurance Group during the 2nd quarter worth approximately $188,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Selective Insurance Group Stock Up 0.8 %

Selective Insurance Group stock opened at $97.51 on Tuesday. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 26.28 and a beta of 0.60. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $96.66 and a two-hundred day moving average of $93.03. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $1.51 earnings per share. As a group, research analysts expect that Selective Insurance Group, Inc. will post 3.61 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. Selective Insurance Group’s payout ratio is 40.97%.

Insider Activity at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.

About Selective Insurance Group

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.