Selective Insurance Group’s (SIGI) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Selective Insurance Group (NASDAQ:SIGI) in a research report released on Friday morning, MarketBeat.com reports. They currently have a $93.00 price target on the insurance provider’s stock, down from their prior price target of $116.00.

SIGI has been the topic of several other reports. Morgan Stanley reduced their target price on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Bank of America upped 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 report on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, BMO Capital Markets upgraded 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. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.71.

Selective Insurance Group Price Performance

Shares of SIGI stock opened at $85.24 on Friday. The stock’s fifty day simple moving average is $93.01 and its 200 day simple moving average is $92.65. Selective Insurance Group has a one year low of $80.84 and a one year high of $109.58. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 26.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. On average, analysts expect that Selective Insurance Group will post 7.64 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 47.21%.

Hedge Funds Weigh In On Selective Insurance Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Selective Insurance Group during the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new stake in shares of Selective Insurance Group in the 3rd quarter valued at $27,000. UMB Bank n.a. lifted its holdings in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 402 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

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.