Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives Consensus Recommendation of “Hold” from Analysts

Selective Insurance Group, Inc. (NASDAQ:SIGI) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $107.20.

Several research firms recently issued reports on SIGI. Oppenheimer reissued an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Selective Insurance Group in a report on Monday, April 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $103.00 price objective on shares of Selective Insurance Group in a research note on Monday, June 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Rise Advisors LLC bought a new position in Selective Insurance Group in the 1st quarter worth approximately $27,000. GAMMA Investing LLC increased its position in Selective Insurance Group by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 145 shares during the period. Fidelis Capital Partners LLC bought a new stake in Selective Insurance Group during the 1st quarter valued at $48,000. Finally, Headinvest LLC acquired a new position in Selective Insurance Group during the 3rd quarter worth $62,000. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

SIGI opened at $91.81 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group has a 1-year low of $89.78 and a 1-year high of $109.58. The company has a 50-day moving average of $95.40 and a 200-day moving average of $100.15. The company has a market capitalization of $5.58 billion, a P/E ratio of 16.22, a PEG ratio of 0.85 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Selective Insurance Group will post 6.8 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.52%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.74%.

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.