Vaughan Nelson Investment Management L.P. Purchases 22,410 Shares of Selective Insurance Group, Inc. $SIGI

Vaughan Nelson Investment Management L.P. increased its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 2.0% during the second quarter, HoldingsChannel.com reports. The firm owned 1,150,662 shares of the insurance provider’s stock after acquiring an additional 22,410 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Selective Insurance Group were worth $99,705,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Olde Wealth Management LLC purchased a new stake in shares of Selective Insurance Group during the 1st quarter valued at about $28,000. Parallel Advisors LLC increased its holdings in Selective Insurance Group by 219.5% in the 2nd quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 248 shares in the last quarter. Amundi boosted its stake in 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 purchasing an additional 311 shares during the period. Brooklyn Investment Group bought a new position in Selective Insurance Group in the 1st quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp bought a new position in Selective Insurance Group in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 1.6%

Shares of NASDAQ:SIGI opened at $83.51 on Friday. Selective Insurance Group, Inc. has a 12-month low of $71.75 and a 12-month high of $103.56. The company has a market capitalization of $5.08 billion, a PE ratio of 13.67 and a beta of 0.39. The business has a 50 day moving average of $78.71 and a two-hundred day moving average of $84.48. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.28.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.24). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. During the same quarter last year, the firm earned ($1.10) earnings per share. As a group, analysts forecast that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.8%. Selective Insurance Group’s payout ratio is 24.88%.

Insider Activity at Selective Insurance Group

In other news, Director Terrence W. Cavanaugh bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average price of $75.72 per share, with a total value of $151,440.00. Following the purchase, the director owned 25,295 shares in the company, valued at approximately $1,915,337.40. The trade was a 8.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Kelly Doherty bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $77.00 per share, for a total transaction of $115,500.00. Following the purchase, the director owned 27,110 shares in the company, valued at $2,087,470. This represents a 5.86% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,602 shares of company stock valued at $817,440 in the last three months. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley downgraded Selective Insurance Group from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $86.00 to $72.00 in a research report on Tuesday, August 5th. Keefe, Bruyette & Woods reduced their target price on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. BMO Capital Markets set a $88.00 target price on Selective Insurance Group and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Saturday, September 27th. Finally, Piper Sandler cut their target price on Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $87.33.

Selective Insurance Group Profile

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.