Selective Insurance Group (NASDAQ:SIGI) had its target price hoisted by Buckingham Research from $73.00 to $75.00 in a research note published on Thursday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the insurance provider’s stock.
SIGI has been the topic of several other research reports. BidaskClub downgraded Selective Insurance Group from a strong-buy rating to a buy rating in a report on Saturday, September 7th. ValuEngine downgraded Selective Insurance Group from a buy rating to a hold rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Selective Insurance Group has a consensus rating of Hold and an average target price of $69.67.
Shares of SIGI stock traded down $0.27 on Thursday, hitting $75.40. The stock had a trading volume of 12,292 shares, compared to its average volume of 234,661. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $4.46 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.63 and a beta of 0.82. Selective Insurance Group has a 1 year low of $56.22 and a 1 year high of $81.35. The company’s 50 day moving average price is $78.36 and its 200-day moving average price is $72.37.
Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.10. The firm had revenue of $708.20 million for the quarter, compared to the consensus estimate of $707.83 million. Selective Insurance Group had a return on equity of 13.53% and a net margin of 8.65%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. On average, equities analysts forecast that Selective Insurance Group will post 4.35 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 1.06%. Selective Insurance Group’s payout ratio is 21.86%.
In related news, Director William M. Rue sold 7,795 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $77.64, for a total transaction of $605,203.80. Following the completion of the transaction, the director now directly owns 337,804 shares of the company’s stock, valued at approximately $26,227,102.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIGI. Geode Capital Management LLC grew its stake in Selective Insurance Group by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 688,212 shares of the insurance provider’s stock worth $41,939,000 after purchasing an additional 38,044 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Selective Insurance Group by 133.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,812 shares of the insurance provider’s stock worth $684,000 after purchasing an additional 6,176 shares in the last quarter. Rhumbline Advisers grew its stake in Selective Insurance Group by 1.4% during the 1st quarter. Rhumbline Advisers now owns 183,302 shares of the insurance provider’s stock worth $11,599,000 after purchasing an additional 2,471 shares in the last quarter. Comerica Bank grew its stake in Selective Insurance Group by 5.8% during the 1st quarter. Comerica Bank now owns 61,234 shares of the insurance provider’s stock worth $4,108,000 after purchasing an additional 3,373 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in Selective Insurance Group by 3.9% during the 1st quarter. Texas Permanent School Fund now owns 40,038 shares of the insurance provider’s stock worth $2,534,000 after purchasing an additional 1,502 shares in the last quarter. 79.06% of the stock is owned by hedge funds and other institutional investors.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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