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

by · The Markets Daily

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) have been assigned an average rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $102.14.

A number of equities analysts have recently commented on SIGI shares. Royal Bank of Canada lifted their target price on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Morgan Stanley started coverage on shares of Selective Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd.

Get Our Latest Stock Report on Selective Insurance Group

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of Selective Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in SIGI. V Square Quantitative Management LLC purchased a new position in Selective Insurance Group during the 3rd quarter valued at about $27,000. Quest Partners LLC purchased a new position in Selective Insurance Group during the second quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Selective Insurance Group in the second quarter worth approximately $44,000. KBC Group NV lifted its holdings in Selective Insurance Group by 18.1% during the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock worth $172,000 after buying an additional 282 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Selective Insurance Group during the 2nd quarter valued at $188,000. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $95.14 on Friday. Selective Insurance Group has a 52-week low of $81.00 and a 52-week high of $109.58. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average is $96.62 and its 200 day moving average is $92.99. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 25.64 and a beta of 0.60.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business posted $1.51 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Selective Insurance Group will post 3.61 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.60%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. Selective Insurance Group’s payout ratio is 40.97%.

Selective Insurance Group Company Profile

(Get Free Report

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.

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