State of New Jersey Common Pension Fund D boosted its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,152 shares of the insurance provider’s stock after purchasing an additional 1,917 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Selective Insurance Group worth $2,780,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC raised its stake in Selective Insurance Group by 375.5% in the second quarter. FMR LLC now owns 1,363,007 shares of the insurance provider’s stock valued at $118,500,000 after buying an additional 1,076,345 shares during the period. Eaton Vance Management increased its stake in Selective Insurance Group by 27.0% during the 1st quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider’s stock worth $89,256,000 after acquiring an additional 212,085 shares during the period. Thrivent Financial for Lutherans increased its stake in Selective Insurance Group by 63.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 501,101 shares of the insurance provider’s stock worth $43,566,000 after acquiring an additional 194,753 shares during the period. State Street Corp boosted its holdings in shares of Selective Insurance Group by 6.2% in the 1st quarter. State Street Corp now owns 2,002,044 shares of the insurance provider’s stock valued at $178,903,000 after purchasing an additional 116,106 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of Selective Insurance Group by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 2,752,581 shares of the insurance provider’s stock valued at $239,309,000 after purchasing an additional 84,594 shares in the last quarter. 83.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SIGI shares. Janney Montgomery Scott started coverage on Selective Insurance Group in a report on Friday, November 11th. They set a “neutral” rating and a $96.00 price objective on the stock. Piper Sandler lifted their price objective on Selective Insurance Group from $88.00 to $91.00 in a research report on Tuesday, January 10th. StockNews.com assumed coverage on Selective Insurance Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Morgan Stanley boosted their target price on Selective Insurance Group from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd.

Insider Transactions at Selective Insurance Group

In related news, Director John Burville sold 2,652 shares of the stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the transaction, the director now directly owns 83,649 shares of the company’s stock, valued at $7,990,152.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Selective Insurance Group news, Director John Burville sold 2,652 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total transaction of $253,319.04. Following the completion of the transaction, the director now owns 83,649 shares of the company’s stock, valued at $7,990,152.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Brian Thebault sold 3,269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $93.28, for a total transaction of $304,932.32. Following the sale, the director now directly owns 51,500 shares of the company’s stock, valued at approximately $4,803,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,734 shares of company stock worth $825,796. Company insiders own 2.00% of the company’s stock.

Selective Insurance Group Trading Up 2.1 %

Shares of SIGI stock opened at $95.43 on Monday. The company’s fifty day simple moving average is $91.61 and its two-hundred day simple moving average is $86.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group, Inc. has a 1 year low of $66.81 and a 1 year high of $98.80. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.39 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.17). Selective Insurance Group had a return on equity of 12.79% and a net margin of 6.76%. The firm had revenue of $920.70 million during the quarter, compared to the consensus estimate of $908.21 million. As a group, analysts anticipate that Selective Insurance Group, Inc. will post 5.02 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.26%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, November 14th. Selective Insurance Group’s dividend payout ratio is presently 32.00%.

Selective Insurance Group Company Profile

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Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured’s real property, personal property, and/or earnings due to the property’s loss; and 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, as well as flood insurance products.

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