Epoch Investment Partners Inc. Reduces Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Epoch Investment Partners Inc. decreased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 82.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,845 shares of the insurance provider’s stock after selling 45,851 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Selective Insurance Group were worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SIGI. Rise Advisors LLC purchased a new stake in shares of Selective Insurance Group during the first quarter valued at $27,000. Quest Partners LLC purchased a new stake in Selective Insurance Group during the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Selective Insurance Group in the first quarter worth about $48,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Insider Buying and Selling

In other Selective Insurance Group news, CEO John J. Marchioni acquired 2,400 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was bought at an average price of $83.56 per share, with a total value of $200,544.00. Following the purchase, the chief executive officer now owns 136,397 shares in the company, valued at $11,397,333.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Terrence W. Cavanaugh acquired 2,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $85.85 per share, with a total value of $171,700.00. Following the completion of the purchase, the director now owns 20,651 shares of the company’s stock, valued at approximately $1,772,888.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John J. Marchioni acquired 2,400 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $83.56 per share, with a total value of $200,544.00. Following the acquisition, the chief executive officer now directly owns 136,397 shares of the company’s stock, valued at approximately $11,397,333.32. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $91.46 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.52 and a beta of 0.56. The stock has a 50-day moving average of $89.44 and a 200 day moving average of $95.31. Selective Insurance Group, Inc. has a twelve month low of $81.00 and a twelve month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.49 by ($2.59). Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $0.99 EPS. Sell-side analysts anticipate that Selective Insurance Group, Inc. will post 3.84 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 15th. Selective Insurance Group’s dividend payout ratio is presently 24.73%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. BMO Capital Markets raised their target price on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Bank of America lowered their price target on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reduced their price objective on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, July 22nd. Finally, Piper Sandler lowered their price objective on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $98.67.

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.