292 Shares in Selective Insurance Group, Inc. (NASDAQ:SIGI) Acquired by V Square Quantitative Management LLC

V Square Quantitative Management LLC purchased a new position in Selective Insurance Group, Inc. (NASDAQ:SIGI) during the third quarter, HoldingsChannel reports. The fund purchased 292 shares of the insurance provider’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds have also modified their holdings of SIGI. Westfield Capital Management Co. LP acquired a new stake in shares of Selective Insurance Group in the 1st quarter worth approximately $55,468,000. Vanguard Group Inc. grew its holdings in shares of Selective Insurance Group by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock worth $717,735,000 after acquiring an additional 367,987 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Selective Insurance Group by 27.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 578,501 shares of the insurance provider’s stock worth $63,155,000 after acquiring an additional 124,860 shares during the period. Millennium Management LLC grew its holdings in shares of Selective Insurance Group by 233.6% in the 2nd quarter. Millennium Management LLC now owns 106,239 shares of the insurance provider’s stock worth $9,968,000 after acquiring an additional 74,390 shares during the period. Finally, Comerica Bank grew its holdings in shares of Selective Insurance Group by 240.6% in the 1st quarter. Comerica Bank now owns 95,476 shares of the insurance provider’s stock worth $10,423,000 after acquiring an additional 67,445 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 1.7 %

Shares of Selective Insurance Group stock opened at $96.97 on Tuesday. Selective Insurance Group, Inc. has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. The firm has a market cap of $5.90 billion, a PE ratio of 26.49, a P/E/G ratio of 1.62 and a beta of 0.56. The business’s fifty day moving average is $91.39 and its two-hundred day moving average is $93.75. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $1.51 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate that Selective Insurance Group, Inc. will post 3.84 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.38 dividend. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 1.57%. Selective Insurance Group’s dividend payout ratio (DPR) is 38.25%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Bank of America upped their target price on Selective Insurance Group from $89.00 to $96.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. Piper Sandler reduced their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.50.

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.