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

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have received a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $100.3333.

SIGI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Selective Insurance Group from $101.00 to $102.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Oppenheimer lifted their price target on shares of Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective for the company. in a report on Tuesday, July 28th. Royal Bank Of Canada upped their price objective on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings lowered shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st.

Insider Activity

In other news, EVP Michael Lanza sold 17,100 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the transaction, the executive vice president directly owned 16,565 shares of the company’s stock, valued at approximately $1,557,772.60. This trade represents a 50.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Selective Insurance Group

Several institutional investors have recently bought and sold shares of SIGI. Eurizon Capital SGR S.p.A. purchased a new position in Selective Insurance Group in the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Selective Insurance Group during the second quarter valued at approximately $26,000. Amundi grew its holdings in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 311 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Selective Insurance Group by 177.5% in the fourth quarter. IFP Advisors Inc now owns 591 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 378 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Trading Down 0.2%

Shares of SIGI stock opened at $90.34 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $94.15 and a two-hundred day moving average price of $87.92. Selective Insurance Group has a 12-month low of $72.78 and a 12-month high of $100.40. The firm has a market cap of $5.38 billion, a P/E ratio of 11.21 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.During the same period in the prior year, the business earned $1.31 EPS. Equities analysts anticipate that Selective Insurance Group will post 8.11 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, August 17th. Selective Insurance Group’s dividend payout ratio is presently 21.34%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc (NASDAQ: SIGI) is an insurance holding company that provides property and casualty insurance through its operating subsidiaries. Founded in 1926 and headquartered in Branchville, New Jersey, the company serves commercial and personal customers through a network of independent insurance agents.

Selective’s products include commercial automobile, property, general liability, workers’ compensation and other coverage designed for businesses, municipalities and professionals.