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

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned an average rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $99.3333.

Several brokerages recently weighed in on SIGI. Royal Bank Of Canada upped their target price on shares of Selective Insurance Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Oppenheimer raised their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on Selective Insurance Group from $88.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Finally, BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $84.00 to $97.00 in a research note on Thursday, May 7th.

Hedge Funds Weigh In On Selective Insurance Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Selective Insurance Group during the 4th quarter worth approximately $25,000. True Wealth Design LLC grew its holdings in Selective Insurance Group by 45.9% during the 4th quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 129 shares in the last quarter. Amundi grew its holdings in Selective Insurance Group by 398.7% during the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 311 shares in the last quarter. Finally, First Horizon Corp increased its position in shares of Selective Insurance Group by 52.8% in the 4th quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $96.08 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $5.75 billion, a P/E ratio of 13.14 and a beta of 0.29. The stock has a 50-day moving average of $92.71 and a two-hundred day moving average of $85.70. Selective Insurance Group has a 1-year low of $71.75 and a 1-year high of $100.40.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $1.76 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Selective Insurance Group will post 7.85 EPS for the current year.

About Selective Insurance Group

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.