Louisiana State Employees Retirement System Makes New Investment in Selective Insurance Group, Inc. $SIGI

Louisiana State Employees Retirement System acquired a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,400 shares of the insurance provider’s stock, valued at approximately $1,312,000.

Other large investors also recently modified their holdings of the company. Lighthouse Investment Partners LLC acquired a new stake in Selective Insurance Group in the 3rd quarter valued at $5,082,000. American Century Companies Inc. raised its stake in Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after acquiring an additional 280,395 shares in the last quarter. SG Americas Securities LLC raised its stake in Selective Insurance Group by 381.2% during the fourth quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider’s stock worth $2,372,000 after acquiring an additional 22,456 shares in the last quarter. Comerica Bank lifted its holdings in shares of Selective Insurance Group by 94.8% during the fourth quarter. Comerica Bank now owns 55,955 shares of the insurance provider’s stock valued at $4,682,000 after acquiring an additional 27,236 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in shares of Selective Insurance Group during the second quarter valued at $468,000. 82.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SIGI shares. Piper Sandler boosted their target price on shares of Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $84.00 to $97.00 in a research report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their price target on shares of Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a report on Thursday, June 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Selective Insurance Group in a research report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $91.67.

Selective Insurance Group Stock Performance

SIGI stock opened at $100.15 on Friday. The business has a fifty day moving average price of $89.53 and a 200 day moving average price of $84.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $100.30. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 13.70 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm posted $1.76 EPS. Selective Insurance Group’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Selective Insurance Group, Inc. will post 7.81 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 23.53%.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.