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

Vestcor Inc cut its position in Selective Insurance Group, Inc. (NASDAQ:SIGI) by 61.3% during the 4th quarter, HoldingsChannel reports. The firm owned 4,708 shares of the insurance provider’s stock after selling 7,458 shares during the quarter. Vestcor Inc’s holdings in Selective Insurance Group were worth $394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lighthouse Investment Partners LLC acquired a new stake in shares of Selective Insurance Group during the third quarter worth $5,082,000. American Century Companies Inc. raised its holdings in shares of Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after acquiring an additional 280,395 shares during the period. SG Americas Securities LLC raised its holdings in shares of Selective Insurance Group by 381.2% during the fourth quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider’s stock worth $2,372,000 after acquiring an additional 22,456 shares during the period. Comerica Bank raised its holdings in shares of Selective Insurance Group by 94.8% during the fourth quarter. Comerica Bank now owns 55,955 shares of the insurance provider’s stock worth $4,682,000 after acquiring an additional 27,236 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Selective Insurance Group during the second quarter worth $468,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SIGI. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Selective Insurance Group in a report on Monday, March 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Piper Sandler raised their price objective on shares of Selective Insurance Group from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on shares of Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $84.00 to $97.00 in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.67.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $90.25 on Wednesday. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 12.35 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. The company has a 50-day simple moving average of $84.00 and a 200 day simple moving average of $82.58. Selective Insurance Group, Inc. has a 52 week low of $71.75 and a 52 week high of $91.65.

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

Selective Insurance Group Dividend Announcement

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

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.