Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,408 shares of the insurance provider’s stock after selling 505 shares during the period. Public Employees Retirement Association of Colorado owned about 0.42% of Selective Insurance Group worth $23,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in Selective Insurance Group in the 1st quarter valued at $27,000. Quest Partners LLC purchased a new stake in shares of Selective Insurance Group during the second quarter worth $28,000. GAMMA Investing LLC raised its position in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after buying an additional 145 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Selective Insurance Group in the first quarter worth about $48,000. Finally, Burkett Financial Services LLC acquired a new position in Selective Insurance Group during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Insider Transactions at Selective Insurance Group

In related news, CEO John J. Marchioni bought 2,400 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average price of $83.56 per share, for a total transaction of $200,544.00. Following the acquisition, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Selective Insurance Group news, Director Terrence W. Cavanaugh purchased 2,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $85.85 per share, for a total transaction of $171,700.00. Following the completion of the purchase, the director now directly owns 20,651 shares of the company’s stock, valued at $1,772,888.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John J. Marchioni acquired 2,400 shares of the stock in a transaction dated Monday, July 22nd. The stock was acquired at an average cost of $83.56 per share, with a total value of $200,544.00. Following the purchase, the chief executive officer now owns 136,397 shares of the company’s stock, valued at approximately $11,397,333.32. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SIGI has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on shares of Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Bank of America reduced their price objective on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research report on Thursday, July 11th. Piper Sandler lowered their price objective on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada cut their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, July 22nd. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.67.

Selective Insurance Group Price Performance

SIGI stock opened at $90.24 on Friday. Selective Insurance Group, Inc. has a 52-week low of $81.00 and a 52-week high of $109.58. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.56. The business has a fifty day moving average of $89.57 and a two-hundred day moving average of $95.53.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59). Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, research analysts anticipate that Selective Insurance Group, Inc. will post 3.84 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Thursday, August 15th. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

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.