Vaughan Nelson Investment Management L.P. Raises Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Vaughan Nelson Investment Management L.P. grew its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 27.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 578,501 shares of the insurance provider’s stock after acquiring an additional 124,860 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Selective Insurance Group were worth $63,155,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. State of Michigan Retirement System increased its position in shares of Selective Insurance Group by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider’s stock valued at $1,451,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. increased its holdings in Selective Insurance Group by 68.9% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Selective Insurance Group by 2.0% during the fourth quarter. Apollon Wealth Management LLC now owns 5,628 shares of the insurance provider’s stock valued at $560,000 after buying an additional 109 shares during the last quarter. Teacher Retirement System of Texas raised its position in Selective Insurance Group by 0.5% in the fourth quarter. Teacher Retirement System of Texas now owns 27,092 shares of the insurance provider’s stock worth $2,695,000 after acquiring an additional 123 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Selective Insurance Group by 0.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 32,436 shares of the insurance provider’s stock worth $3,227,000 after acquiring an additional 143 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Price Performance

Shares of NASDAQ:SIGI traded up $0.44 during midday trading on Tuesday, reaching $94.76. 10,560 shares of the company were exchanged, compared to its average volume of 314,895. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The stock has a market cap of $5.76 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.85 and a beta of 0.54. The business’s fifty day moving average is $96.03 and its two-hundred day moving average is $100.32. Selective Insurance Group, Inc. has a one year low of $89.78 and a one year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts predict that Selective Insurance Group, Inc. will post 6.8 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Tuesday, May 14th. Selective Insurance Group’s payout ratio is 24.74%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SIGI. Royal Bank of Canada restated a “sector perform” rating and issued a $103.00 price objective on shares of Selective Insurance Group in a research note on Monday, June 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Finally, Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.20.

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.