Keefe, Bruyette & Woods Analysts Give Selective Insurance Group, Inc. (SIGI) a $55.00 Price Target

Selective Insurance Group, Inc. (NASDAQ:SIGI) received a $55.00 target price from equities researchers at Keefe, Bruyette & Woods in a report issued on Sunday, October 29th. The brokerage presently has a “hold” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 6.62% from the company’s previous close.

A number of other research firms have also issued reports on SIGI. BidaskClub raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. ValuEngine lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 target price on shares of Selective Insurance Group in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Selective Insurance Group has an average rating of “Hold” and a consensus target price of $49.91.

Selective Insurance Group (NASDAQ:SIGI) traded up $0.10 during trading hours on Friday, hitting $58.90. 249,409 shares of the stock were exchanged, compared to its average volume of 223,364. Selective Insurance Group has a twelve month low of $38.50 and a twelve month high of $60.50. The company has a market cap of $3,395.46, a PE ratio of 19.32, a P/E/G ratio of 1.55 and a beta of 1.46. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.00%. The business had revenue of $621.30 million for the quarter, compared to analysts’ expectations of $625.80 million. During the same period last year, the business earned $0.66 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. equities analysts expect that Selective Insurance Group will post 3.08 earnings per share for the current fiscal year.

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In other Selective Insurance Group news, Director John Burville sold 600 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $59.10, for a total transaction of $35,460.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Morrissey sold 665 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.81, for a total transaction of $33,788.65. Following the sale, the director now owns 15,177 shares in the company, valued at $771,143.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,265 shares of company stock worth $538,469. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in Selective Insurance Group by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 23 shares during the period. Teacher Retirement System of Texas increased its stake in Selective Insurance Group by 2.1% during the second quarter. Teacher Retirement System of Texas now owns 4,657 shares of the insurance provider’s stock worth $233,000 after purchasing an additional 94 shares during the period. LS Investment Advisors LLC grew its position in shares of Selective Insurance Group by 5.1% during the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after buying an additional 106 shares in the last quarter. Amalgamated Bank grew its position in shares of Selective Insurance Group by 1.7% during the second quarter. Amalgamated Bank now owns 7,839 shares of the insurance provider’s stock worth $392,000 after buying an additional 132 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Selective Insurance Group by 8.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock worth $126,000 after buying an additional 204 shares in the last quarter. Institutional investors own 76.46% of the company’s stock.

About Selective Insurance Group

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

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