Selective Insurance Group, Inc. (NASDAQ:SIGI) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 147,884 shares of the insurance provider’s stock after buying an additional 260 shares during the period. Retirement Systems of Alabama’s holdings in Selective Insurance Group were worth $14,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Selective Insurance Group by 15.3% in the 3rd quarter. SG Americas Securities LLC now owns 1,718 shares of the insurance provider’s stock valued at $177,000 after acquiring an additional 228 shares in the last quarter. Raymond James & Associates lifted its position in shares of Selective Insurance Group by 2.1% in the 3rd quarter. Raymond James & Associates now owns 43,341 shares of the insurance provider’s stock valued at $4,471,000 after acquiring an additional 898 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Selective Insurance Group by 91.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 11,587 shares of the insurance provider’s stock valued at $1,195,000 after acquiring an additional 5,547 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Selective Insurance Group by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 923,764 shares of the insurance provider’s stock valued at $95,305,000 after acquiring an additional 18,508 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Selective Insurance Group by 19.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,691 shares of the insurance provider’s stock valued at $1,309,000 after acquiring an additional 2,040 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

NASDAQ SIGI opened at $102.28 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $103.63 and a 200 day simple moving average of $102.75. The company has a market cap of $6.22 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.75 and a beta of 0.55. Selective Insurance Group, Inc. has a 1 year low of $91.99 and a 1 year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.67 EPS for the current year.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on SIGI. Piper Sandler reiterated a “neutral” rating and issued a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. Royal Bank of Canada dropped their price objective on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a research note on Friday, April 5th. Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $105.17.

Selective Insurance Group Company 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.