Vaughan Nelson Investment Management L.P. Increases Position in Selective Insurance Group, Inc. (NASDAQ:SIGI)

Vaughan Nelson Investment Management L.P. increased its stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,641 shares of the insurance provider's stock after purchasing an additional 15,070 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.75% of Selective Insurance Group worth $45,128,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in Selective Insurance Group by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider's stock worth $1,451,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 104 shares during the period. Fifth Third Bancorp boosted its position in shares of Selective Insurance Group by 12.3% in the third quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider's stock valued at $121,000 after acquiring an additional 128 shares during the period. Advisor Partners II LLC raised its stake in Selective Insurance Group by 4.0% in the first quarter. Advisor Partners II LLC now owns 3,394 shares of the insurance provider's stock valued at $324,000 after purchasing an additional 132 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its stake in Selective Insurance Group by 3.2% in the first quarter. HBK Sorce Advisory LLC now owns 4,271 shares of the insurance provider's stock valued at $617,000 after purchasing an additional 133 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Trading Up 0.1 %

NASDAQ:SIGI traded up $0.11 during midday trading on Friday, hitting $104.50. 209,876 shares of the company traded hands, compared to its average volume of 339,712. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average is $103.41 and its 200-day moving average is $102.96. Selective Insurance Group, Inc. has a 12-month low of $91.99 and a 12-month high of $109.58. The firm has a market capitalization of $6.35 billion, a P/E ratio of 17.92, a P/E/G ratio of 0.75 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.68 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.34%. Selective Insurance Group's payout ratio is 24.01%.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares of the company's stock, valued at $1,112,904.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on SIGI. Piper Sandler reissued a "neutral" rating and set a $104.00 price target on shares of Selective Insurance Group in a research note on Monday, April 1st. Royal Bank of Canada dropped their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Oppenheimer reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Selective Insurance Group in a research report on Friday. Finally, Keefe, Bruyette & Woods lowered their price target on Selective Insurance Group from $111.00 to $109.00 and set a "market perform" rating for the company in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $105.17.

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.