Vanguard Group Inc. Raises Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Vanguard Group Inc. lifted its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,206,485 shares of the insurance provider’s stock after purchasing an additional 41,276 shares during the quarter. Vanguard Group Inc. owned about 10.23% of Selective Insurance Group worth $617,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Asset Management Inc. grew its holdings in Selective Insurance Group by 7.9% in the 4th quarter. Eagle Asset Management Inc. now owns 147,465 shares of the insurance provider’s stock valued at $14,670,000 after buying an additional 10,743 shares during the period. UBS Group AG increased its position in Selective Insurance Group by 17.9% during the fourth quarter. UBS Group AG now owns 87,302 shares of the insurance provider’s stock worth $8,685,000 after purchasing an additional 13,237 shares during the last quarter. Hsbc Holdings PLC raised its stake in Selective Insurance Group by 479.8% during the fourth quarter. Hsbc Holdings PLC now owns 11,595 shares of the insurance provider’s stock worth $1,155,000 after purchasing an additional 9,595 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Selective Insurance Group by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 505,325 shares of the insurance provider’s stock valued at $50,270,000 after purchasing an additional 18,457 shares during the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of Selective Insurance Group by 6.3% during the 3rd quarter. Natixis Advisors L.P. now owns 89,197 shares of the insurance provider’s stock valued at $9,203,000 after buying an additional 5,289 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 0.3 %

SIGI opened at $92.52 on Monday. The firm’s 50 day moving average is $97.09 and its 200-day moving average is $100.69. Selective Insurance Group, Inc. has a 52-week low of $89.78 and a 52-week high of $109.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $5.62 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.84 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.55). The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.44 EPS. Analysts expect that Selective Insurance Group, Inc. will post 6.84 EPS for the current fiscal 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 yield of 1.51%. The ex-dividend date of this dividend was Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SIGI. Oppenheimer reiterated an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th. Finally, Piper Sandler reissued a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.60.

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.