Public Employees Retirement Association Of Colorado decreased its stock position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Public Employees Retirement Association Of Colorado trimmed its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 255,408 shares of the insurance provider’s stock after selling 505 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Selective Insurance Group were worth $23,965,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Selective Insurance Group in the first quarter worth $27,000. Quest Partners LLC purchased a new position in Selective Insurance Group in the second quarter valued at $28,000. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 145 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Selective Insurance Group in the 1st quarter worth about $48,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Selective Insurance Group in the 4th quarter valued at about $75,000. Institutional investors and hedge funds own 82.88% of the company’s shares.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $90.24 on Friday. The company’s fifty-day simple moving average is $89.57, and its 200-day simple moving average is $95.53. Selective Insurance Group, Inc. has a 12-month low of $81.00 and a 12-month high of $109.58. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.52 and a beta of 0.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32, and a quick ratio of 0.32.

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

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.35 per share. This represents an annualized dividend of $1.40 and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, August 15. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

The Wall Street analyst weighs in

Several brokerages have recently weighed in on SIGI. Bank of America cut their price target 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. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Royal Bank of Canada cut their price target on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a report on Monday, July 22nd. BMO Capital Markets lifted their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $104.00 to $99.00 in a research note dated Monday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $98.67, according to MarketBeat.

Check out the latest stock report on SIGI

Insiders place their bets

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

Profile of the selective insurance group

(Free Report)

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. Provides accident insurance products that cover the financial consequences of injuries to employees in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which cover accidental loss of real property, personal property and/or earnings due to the loss of an insured’s property; and flood insurance products.

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Want to see what other hedge funds SIGI owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report).

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