Selective Insurance Group, Inc. (NASDAQ:SIGI) Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 543.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,052 shares of the insurance provider's stock after purchasing an additional 60,015 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.12% of Selective Insurance Group worth $6,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SIGI. Vaughan Nelson Investment Management L.P. grew its position in shares of Selective Insurance Group by 36.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,128,252 shares of the insurance provider's stock worth $103,280,000 after buying an additional 299,925 shares during the last quarter. Northern Trust Corp boosted its holdings in Selective Insurance Group by 9.3% in the fourth quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider's stock worth $98,396,000 after acquiring an additional 89,692 shares in the last quarter. Norges Bank bought a new stake in Selective Insurance Group in the fourth quarter worth $93,409,000. Charles Schwab Investment Management Inc. boosted its holdings in Selective Insurance Group by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after acquiring an additional 16,539 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Selective Insurance Group in the 4th quarter worth about $69,504,000. 82.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Anthony D. Harnett sold 1,352 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the sale, the chief accounting officer owned 15,946 shares of the company's stock, valued at approximately $1,388,258.76. This trade represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley increased their price target on Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, BMO Capital Markets increased their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. 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's stock. Based on data from MarketBeat, Selective Insurance Group currently has an average rating of "Hold" and a consensus price target of $94.00.

Selective Insurance Group Stock Performance

Shares of SIGI traded up $0.36 during mid-day trading on Tuesday, hitting $85.96. 413,465 shares of the company's stock were exchanged, compared to its average volume of 395,684. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The business's 50 day moving average is $87.14 and its two-hundred day moving average is $87.91. The firm has a market capitalization of $5.22 billion, a P/E ratio of 23.42 and a beta of 0.48. Selective Insurance Group, Inc. has a fifty-two week low of $78.13 and a fifty-two week high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. On average, equities analysts expect that Selective Insurance Group, Inc. will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Thursday, May 15th. Selective Insurance Group's dividend payout ratio is currently 41.42%.

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.