Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Average Rating of “Hold” by Brokerages

Selective Insurance Group, Inc. (NASDAQ:SIGI) has received an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $104.57.

Several analysts have weighed in on SIGI shares. Royal Bank of Canada lifted their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Selective Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, Bank of America raised their price target on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd.

Insider Transactions at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Selective Insurance Group

Several large investors have recently bought and sold shares of SIGI. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group in the third quarter valued at approximately $27,000. Quest Partners LLC bought a new stake in Selective Insurance Group during the 2nd quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Selective Insurance Group in the 2nd quarter valued at approximately $44,000. GAMMA Investing LLC raised its stake in shares of Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 190 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Selective Insurance Group by 18.1% during the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock worth $172,000 after purchasing an additional 282 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $91.22 on Tuesday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 24.59 and a beta of 0.62. The stock’s 50 day moving average is $96.27 and its 200-day moving average is $93.00. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group has a 12 month low of $81.00 and a 12 month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the business earned $1.51 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that Selective Insurance Group will post 3.61 EPS for the current year.

Selective Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.67%. Selective Insurance Group’s payout ratio is presently 40.97%.

Selective Insurance Group Company 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.