Vaughan Nelson Investment Management L.P. Has $103.28 Million Stock Holdings in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Vaughan Nelson Investment Management L.P. grew its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 36.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,252 shares of the insurance provider's stock after buying an additional 299,925 shares during the quarter. Selective Insurance Group makes up 1.0% of Vaughan Nelson Investment Management L.P.'s portfolio, making the stock its 29th largest position. Vaughan Nelson Investment Management L.P. owned about 1.86% of Selective Insurance Group worth $103,280,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Northern Trust Corp increased its holdings in Selective Insurance Group by 9.3% during the fourth quarter. Northern Trust Corp now owns 1,052,142 shares of the insurance provider's stock worth $98,396,000 after buying an additional 89,692 shares during the last quarter. Norges Bank acquired a new position in shares of Selective Insurance Group during the 4th quarter worth about $93,409,000. Charles Schwab Investment Management Inc. increased its stake in shares of Selective Insurance Group by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after purchasing an additional 16,539 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Selective Insurance Group in the 4th quarter valued at about $69,504,000. Finally, Bank of New York Mellon Corp lifted its stake in Selective Insurance Group by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 582,140 shares of the insurance provider's stock valued at $54,442,000 after purchasing an additional 20,576 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI traded down $0.04 during trading on Wednesday, reaching $84.95. 209,836 shares of the stock were exchanged, compared to its average volume of 390,871. Selective Insurance Group, Inc. has a 12 month low of $78.13 and a 12 month high of $103.56. The stock has a 50-day moving average price of $87.85 and a 200-day moving average price of $89.04. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The firm has a market cap of $5.16 billion, a PE ratio of 23.13 and a beta of 0.49.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts expect that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were given a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.79%. Selective Insurance Group's payout ratio is presently 41.42%.

Insider Activity at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $87.06, for a total value of $117,705.12. Following the completion of the sale, the chief accounting officer now owns 15,946 shares in the company, valued at $1,388,258.76. The trade was a 7.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on SIGI. Keefe, Bruyette & Woods lowered their price target on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets lifted their target price on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley raised their price target on Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $94.00.

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.