Vanguard Group Inc. Decreases Stake in Selective Insurance Group, Inc. $SIGI

Key Points

• Vanguard Group trimmed its stake in Selective Insurance Group by 1.3% in Q4, selling 85,407 shares and now holds 6,632,077 shares (about 10.98%) worth roughly $554.9 million; overall institutional ownership is 82.88%.
• Selective reported quarterly EPS of $1.69, missing the $1.81 consensus while revenue rose 5.7% to $1.36 billion and beat estimates; analysts project roughly $7.76 in EPS for the fiscal year.
• The company declared a quarterly dividend of $0.43 (annualized $1.72) payable June 1 with an ex-dividend date of May 15, implying a yield of about 2.1% and a payout ratio near 23.5%.

Vanguard Group Inc. reduced its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,632,077 shares of the insurance provider's stock after selling 85,407 shares during the period. Vanguard Group Inc. owned about 10.98% of Selective Insurance Group worth $554,906,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Horizon Corp bought a new stake in shares of Selective Insurance Group in the 3rd quarter worth approximately $29,000. True Wealth Design LLC grew its position in shares of Selective Insurance Group by 45.9% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider's stock worth $34,000 after buying an additional 129 shares during the last quarter. Amundi grew its position in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock worth $36,000 after buying an additional 311 shares during the last quarter. Rothschild Investment LLC grew its position in shares of Selective Insurance Group by 680.0% in the 3rd quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider's stock worth $44,000 after buying an additional 476 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Selective Insurance Group by 38.4% in 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. 82.88% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Down 1.5%

NASDAQ SIGI opened at $80.88 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $91.63. The firm has a market capitalization of $4.84 billion, a PE ratio of 11.06 and a beta of 0.32. The stock's 50 day moving average is $79.59 and its 200 day moving average is $80.96.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts forecast that Selective Insurance Group, Inc. will post 7.76 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 2.1%. Selective Insurance Group's payout ratio is currently 23.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SIGI shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 price objective on shares of Selective Insurance Group in a research report on Monday, March 23rd. Keefe, Bruyette & Woods lifted 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. Piper Sandler lifted their price objective on Selective Insurance Group from $79.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $84.40.

Selective Insurance Group Profile

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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