Dimensional Fund Advisors LP Has $102.47 Million Stock Holdings in Selective Insurance Group, Inc. $SIGI

Dimensional Fund Advisors LP grew its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,359,224 shares of the insurance provider's stock after purchasing an additional 44,532 shares during the period. Dimensional Fund Advisors LP owned about 2.27% of Selective Insurance Group worth $102,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its stake in Selective Insurance Group by 381.2% during the fourth quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider's stock valued at $2,372,000 after buying an additional 22,456 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Selective Insurance Group in the second quarter worth about $468,000. Comerica Bank increased its position in shares of Selective Insurance Group by 94.8% in the fourth quarter. Comerica Bank now owns 55,955 shares of the insurance provider's stock worth $4,682,000 after acquiring an additional 27,236 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Selective Insurance Group by 138.0% in the fourth quarter. Intech Investment Management LLC now owns 62,686 shares of the insurance provider's stock worth $5,245,000 after acquiring an additional 36,351 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Selective Insurance Group by 103.6% during the fourth quarter. CWM LLC now owns 27,039 shares of the insurance provider's stock valued at $2,262,000 after acquiring an additional 13,757 shares during the period. Institutional investors and hedge funds own 82.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Selective Insurance Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. BMO Capital Markets cut shares of Selective Insurance Group from an "outperform" rating to a "market perform" rating and set a $97.00 price objective on the stock. in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of Selective Insurance Group from $88.00 to $101.00 and gave the company a "market perform" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada boosted their target price on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Piper Sandler increased their target price on Selective Insurance Group from $93.00 to $103.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $100.17.

Selective Insurance Group Trading Up 1.7%

NASDAQ:SIGI opened at $94.40 on Wednesday. The stock has a market cap of $5.62 billion, a PE ratio of 11.71 and a beta of 0.29. Selective Insurance Group, Inc. has a fifty-two week low of $72.78 and a fifty-two week high of $100.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.30. The stock's 50-day moving average is $93.30 and its two-hundred day moving average is $86.01.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.29. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.30 billion. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. During the same period in the prior year, the firm earned $1.31 earnings per share. As a group, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.95 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 17th. Selective Insurance Group's dividend payout ratio is currently 21.34%.

About Selective Insurance Group

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.

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