Teacher Retirement System of Texas Purchases New Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Teacher Retirement System of Texas purchased a new stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,037 shares of the insurance provider's stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Selective Insurance Group by 28.6% in the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock worth $510,239,000 after buying an additional 1,216,801 shares during the period. State Street Corp grew its stake in shares of Selective Insurance Group by 3.1% in the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider's stock worth $224,097,000 after purchasing an additional 71,296 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Selective Insurance Group by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider's stock valued at $148,048,000 after buying an additional 26,880 shares during the period. Boston Trust Walden Corp lifted its stake in Selective Insurance Group by 8.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock worth $98,694,000 after acquiring an additional 84,341 shares during the period. Finally, 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 valued at $82,693,000 after acquiring an additional 16,539 shares in the last quarter. Hedge funds and other institutional investors own 82.88% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have commented on SIGI. 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 cut their price objective on Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.71.

Selective Insurance Group Stock Up 0.3 %

Shares of NASDAQ SIGI traded up $0.26 on Wednesday, reaching $92.22. 311,499 shares of the company's stock traded hands, compared to its average volume of 375,417. The business's 50 day simple moving average is $86.46 and its two-hundred day simple moving average is $91.88. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $106.01. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 28.64 and a beta of 0.54. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, February 14th. Selective Insurance Group's payout ratio is 47.20%.

About Selective Insurance Group

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.