Teacher Retirement System of Texas Invests $1.03 Million in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Teacher Retirement System of Texas bought a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,037 shares of the insurance provider’s stock, valued at approximately $1,032,000.

Other large investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Selective Insurance Group in the 4th quarter worth about $25,000. UMB Bank n.a. grew its holdings in shares of Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 402 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 190 shares during the last quarter. Finally, Roxbury Financial LLC bought a new stake in Selective Insurance Group during the fourth quarter worth $180,000. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI opened at $91.79 on Friday. The firm has a market capitalization of $5.58 billion, a PE ratio of 28.51 and a beta of 0.54. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $86.59 and a two-hundred day moving average price of $91.83. Selective Insurance Group, Inc. has a twelve month low of $78.13 and a twelve month high of $108.92.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Equities analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.20%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $93.00 price objective (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.71.

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.