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

Selective Insurance Group, Inc. (NASDAQ:SIGI) has been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $104.57.

Several equities analysts recently issued reports on SIGI shares. Morgan Stanley assumed coverage on Selective Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price objective for the company. Bank of America raised their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Royal Bank of Canada boosted their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th.

Selective Insurance Group Price Performance

SIGI opened at $93.28 on Tuesday. The company has a fifty day moving average price of $95.96 and a two-hundred day moving average price of $92.98. The firm has a market capitalization of $5.67 billion, a PE ratio of 25.14 and a beta of 0.62. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Selective Insurance Group will post 3.61 earnings per share for the current year.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction that occurred on Friday, October 25th. The shares were 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 owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. The trade was a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Selective Insurance Group in the third quarter worth about $27,000. Quest Partners LLC purchased a new stake in shares of Selective Insurance Group in the second quarter valued at approximately $28,000. UMB Bank n.a. increased its stake in shares of Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 402 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Selective Insurance Group during the 2nd quarter valued at $44,000. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Company Profile

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.