Selective Insurance Group, Inc. $SIGI Shares Sold by Vaughan Nelson Investment Management L.P.

by · The Markets Daily

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Free Report) by 56.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 464,237 shares of the insurance provider’s stock after selling 612,520 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.78% of Selective Insurance Group worth $34,999,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SIGI. State of Wyoming grew its position in Selective Insurance Group by 17.7% in the 4th quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock valued at $63,000 after buying an additional 113 shares during the last quarter. True Wealth Design LLC increased its stake in Selective Insurance Group by 45.9% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after buying an additional 129 shares during the period. Merit Financial Group LLC raised its position in Selective Insurance Group by 4.0% during the 3rd quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock worth $271,000 after buying an additional 129 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Selective Insurance Group by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock worth $46,000 after buying an additional 154 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Selective Insurance Group by 5.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,518 shares of the insurance provider’s stock worth $294,000 after acquiring an additional 187 shares during the period. 82.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SIGI. Piper Sandler raised their price target on Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Selective Insurance Group in a report on Monday, March 23rd. Keefe, Bruyette & Woods increased their price objective on Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Finally, Oppenheimer raised their target price on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Three 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.67.

Get Our Latest Stock Report on Selective Insurance Group

Selective Insurance Group Stock Performance

Shares of SIGI opened at $92.31 on Monday. The stock has a fifty day moving average of $86.38 and a two-hundred day moving average of $83.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $5.53 billion, a PE ratio of 12.63 and a beta of 0.32. Selective Insurance Group, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $93.99.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Selective Insurance Group’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts forecast that Selective Insurance Group, Inc. will post 7.81 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a yield of 1.9%. Selective Insurance Group’s dividend payout ratio is currently 23.53%.

Selective Insurance Group Profile

(Free Report)

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.

See Also

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