Vestcor Inc Has $394,000 Stake in Selective Insurance Group, Inc. $SIGI

Vestcor Inc decreased its position in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) by 61.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,708 shares of the insurance provider’s stock after selling 7,458 shares during the period. Vestcor Inc’s holdings in Selective Insurance Group were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vise Technologies Inc. grew its stake in shares of Selective Insurance Group by 54.6% during the fourth quarter. Vise Technologies Inc. now owns 4,667 shares of the insurance provider’s stock valued at $390,000 after purchasing an additional 1,648 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Selective Insurance Group by 5.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,518 shares of the insurance provider’s stock valued at $294,000 after purchasing an additional 187 shares during the last quarter. State of Wyoming grew its stake in shares of Selective Insurance Group by 17.7% during the fourth quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 113 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Selective Insurance Group by 225.6% during the fourth quarter. TD Asset Management Inc now owns 12,700 shares of the insurance provider’s stock valued at $1,063,000 after purchasing an additional 8,800 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Selective Insurance Group during the fourth quarter valued at approximately $239,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Trading Up 2.7%

SIGI opened at $90.25 on Wednesday. The firm’s fifty day moving average is $84.00 and its two-hundred day moving average is $82.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $5.40 billion, a PE ratio of 12.35 and a beta of 0.32. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $91.65.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.76 earnings per share. Equities research analysts anticipate that Selective Insurance Group, Inc. will post 7.81 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.43 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.72 annualized dividend and a yield of 1.9%. Selective Insurance Group’s dividend payout ratio (DPR) is 23.53%.

Wall Street Analysts Forecast Growth

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