Vanguard Group Inc. Sells 85,407 Shares of Selective Insurance Group, Inc. $SIGI

Vanguard Group Inc. trimmed its stake in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,632,077 shares of the insurance provider’s stock after selling 85,407 shares during the quarter. Vanguard Group Inc. owned 0.11% of Selective Insurance Group worth $554,906,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Corp bought a new stake in Selective Insurance Group in the third quarter worth $29,000. Amundi raised its stake in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 311 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of Selective Insurance Group by 680.0% in the third quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 476 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Selective Insurance Group by 38.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 154 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Stock Down 1.5%

Selective Insurance Group stock opened at $80.88 on Tuesday. The stock has a market cap of $4.84 billion, a PE ratio of 11.06 and a beta of 0.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group, Inc. has a one year low of $71.75 and a one year high of $91.63. The stock has a fifty day moving average of $79.59 and a 200 day moving average of $80.96.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $1.76 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.76 EPS for the current year.

Selective Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

SIGI has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a research note on Wednesday, March 25th. Keefe, Bruyette & Woods boosted their price target on Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Selective Insurance Group in a research note on Monday, March 23rd. Finally, Piper Sandler boosted their price target on Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and an average target price of $84.40.

Selective Insurance Group Company 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.