Selective Insurance Group (NASDAQ:SIGI) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Selective Insurance Group (NASDAQ:SIGI) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has a $93.00 price objective on the insurance provider’s stock, down from their prior price objective of $116.00.

A number of other brokerages have also issued reports on SIGI. Royal Bank of Canada lifted their target price on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley dropped their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $98.71.

Selective Insurance Group Stock Down 0.5 %

Shares of NASDAQ:SIGI opened at $85.24 on Friday. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 26.47 and a beta of 0.61. The company has a 50 day moving average of $93.35 and a two-hundred day moving average of $92.56. Selective Insurance Group has a 52-week low of $80.84 and a 52-week high of $109.58. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. As a group, analysts forecast that Selective Insurance Group will post 7.64 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group’s dividend payout ratio is presently 47.21%.

Institutional Trading of Selective Insurance Group

Several institutional investors have recently added to or reduced their stakes in SIGI. R Squared Ltd acquired a new position in shares of Selective Insurance Group in the 4th quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in Selective Insurance Group during the third quarter worth about $27,000. UMB Bank n.a. lifted its holdings in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 402 shares during the period. Finally, GAMMA Investing LLC grew its holdings 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 purchasing an additional 190 shares during the last quarter. Institutional investors own 82.88% of the company’s stock.

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.