Vaughan Nelson Investment Management L.P. Cuts Position in Selective Insurance Group, Inc. $SIGI

Vaughan Nelson Investment Management L.P. trimmed its holdings in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 56.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,237 shares of the insurance provider’s stock after selling 612,520 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Selective Insurance Group were worth $34,999,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SIGI. Amundi raised its stake in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Selective Insurance Group by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,627 shares of the insurance provider’s stock worth $19,555,000 after purchasing an additional 11,167 shares during the period. Focus Partners Wealth boosted its position in Selective Insurance Group by 17.9% during the 1st quarter. Focus Partners Wealth now owns 2,705 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 411 shares during the period. Sivia Capital Partners LLC acquired a new stake in Selective Insurance Group in the 2nd quarter valued at $468,000. Finally, Cetera Investment Advisers increased its holdings in Selective Insurance Group by 14.1% in the 2nd quarter. Cetera Investment Advisers now owns 3,749 shares of the insurance provider’s stock valued at $325,000 after purchasing an additional 462 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Price Performance

SIGI opened at $92.31 on Monday. The company has a fifty day simple moving average of $86.38 and a 200 day simple moving average of $83.35. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 12.63 and a beta of 0.32. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $93.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last issued 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 return on equity of 13.71% and a net margin of 8.39%.The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts expect that Selective Insurance Group, Inc. will post 7.81 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 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 15th. Selective Insurance Group’s payout ratio is presently 23.53%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SIGI. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $84.00 to $97.00 in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Selective Insurance Group in a research note on Wednesday, March 25th. Oppenheimer raised their target price on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods raised their target price on Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Selective Insurance Group in a research report on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $91.67.

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.