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

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $98.67.

Several equities analysts recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Royal Bank of Canada cut their price target on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a report on Monday, July 22nd. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. BMO Capital Markets increased their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Bank of America cut their price target on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a report on Thursday, July 11th.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $92.17 on Wednesday. The firm has a market capitalization of $5.61 billion, a P/E ratio of 16.28, a PEG ratio of 1.48 and a beta of 0.56. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $89.77 and a 200 day moving average price of $95.76. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.49 by ($2.59). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. During the same period in the previous year, the business earned $0.99 earnings per share. Sell-side analysts expect that Selective Insurance Group will post 3.84 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.52%. Selective Insurance Group’s payout ratio is 24.74%.

Insider Transactions at Selective Insurance Group

In other news, Director Terrence W. Cavanaugh acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average price of $85.85 per share, with a total value of $171,700.00. Following the purchase, the director now directly owns 20,651 shares of the company’s stock, valued at $1,772,888.35. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO John J. Marchioni purchased 2,400 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average price of $83.56 per share, with a total value of $200,544.00. Following the purchase, the chief executive officer now owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Terrence W. Cavanaugh purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was bought at an average cost of $85.85 per share, for a total transaction of $171,700.00. Following the purchase, the director now directly owns 20,651 shares in the company, valued at approximately $1,772,888.35. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Selective Insurance Group

Institutional investors have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. grew its stake in Selective Insurance Group by 7.9% in the 4th quarter. Eagle Asset Management Inc. now owns 147,465 shares of the insurance provider’s stock valued at $14,670,000 after acquiring an additional 10,743 shares during the period. Quadrature Capital Ltd purchased a new position in Selective Insurance Group in the 4th quarter valued at $1,041,000. Westfield Capital Management Co. LP purchased a new position in Selective Insurance Group in the 1st quarter valued at $55,468,000. UBS Group AG lifted its holdings in Selective Insurance Group by 17.9% in the 4th quarter. UBS Group AG now owns 87,302 shares of the insurance provider’s stock valued at $8,685,000 after purchasing an additional 13,237 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Selective Insurance Group by 15,444.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,721 shares of the insurance provider’s stock valued at $1,935,000 after purchasing an additional 17,607 shares in the last quarter. Institutional investors and hedge funds 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.