New York State Common Retirement Fund Has $12.89 Million Stake in Selective Insurance Group, Inc. (NASDAQ:SIGI)

New York State Common Retirement Fund decreased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,830 shares of the insurance provider’s stock after selling 41,911 shares during the quarter. New York State Common Retirement Fund’s holdings in Selective Insurance Group were worth $12,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Selective Insurance Group in the 4th quarter valued at approximately $25,000. UMB Bank n.a. increased its stake 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 buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after buying an additional 402 shares during the last quarter. GAMMA Investing LLC boosted its position in Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after buying an additional 190 shares during the period. Finally, KBC Group NV grew its holdings in Selective Insurance Group by 18.1% during the 3rd 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. Institutional investors own 82.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley decreased their price target on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Down 1.1 %

Shares of Selective Insurance Group stock opened at $78.49 on Monday. The stock’s 50-day moving average is $89.77 and its 200 day moving average is $92.22. Selective Insurance Group, Inc. has a one year low of $78.13 and a one year high of $109.58. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 24.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Equities research analysts anticipate 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 will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 47.21%.

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.