Selective Insurance Group, Inc. (NASDAQ:SIGI) Short Interest Update

by · The Markets Daily

Selective Insurance Group, Inc. (NASDAQ:SIGIGet Free Report) was the target of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 2,003,970 shares, an increase of 20.8% from the January 15th total of 1,659,441 shares. Based on an average trading volume of 684,920 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.4% of the shares of the stock are short sold. Currently, 3.4% of the shares of the stock are short sold. Based on an average trading volume of 684,920 shares, the days-to-cover ratio is presently 2.9 days.

Selective Insurance Group Stock Up 0.0%

NASDAQ SIGI traded up $0.04 on Tuesday, reaching $86.46. 336,575 shares of the stock traded hands, compared to its average volume of 572,507. Selective Insurance Group has a 12 month low of $71.75 and a 12 month high of $93.38. The company has a fifty day moving average price of $84.15 and a 200-day moving average price of $80.72. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 11.54 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGIGet Free Report) last posted its earnings results on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $1.62 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Selective Insurance Group will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is 22.96%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada started coverage on shares of Selective Insurance Group in a research report on Monday, November 24th. They issued an “outperform” rating and a $95.00 price target on the stock. Piper Sandler increased their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods dropped their price target on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research report on Tuesday, January 6th. Morgan Stanley upped their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, November 17th. Finally, BMO Capital Markets cut Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 target price for the company. in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.00.

View Our Latest Report on Selective Insurance Group

Institutional Investors Weigh In On Selective Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SIGI. Trexquant Investment LP bought a new position in Selective Insurance Group in the fourth quarter worth about $4,784,000. Amundi purchased a new position in shares of Selective Insurance Group in the 4th quarter worth approximately $424,000. Jump Financial LLC bought a new position in shares of Selective Insurance Group during the 4th quarter worth approximately $962,000. Laurion Capital Management LP acquired a new stake in Selective Insurance Group in the fourth quarter valued at approximately $748,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Selective Insurance Group by 3.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 101,743 shares of the insurance provider’s stock valued at $8,514,000 after acquiring an additional 3,087 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

About Selective Insurance Group

(Get Free Report)

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.

Featured Articles