Analysts Set Selective Insurance Group, Inc. (NASDAQ:SIGI) Price Target at $91.67

Selective Insurance Group, Inc. (NASDAQ:SIGIGet Free Report) has earned a consensus recommendation of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $91.6667.

A number of research analysts recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Selective Insurance Group in a research note on Monday, March 23rd. Oppenheimer increased their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Piper Sandler raised their price objective on Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their target price on Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $84.00 to $97.00 in a research report on Thursday, May 7th.

View Our Latest Stock Analysis on SIGI

Selective Insurance Group Trading Up 0.6%

Shares of Selective Insurance Group stock opened at $86.01 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group has a 1 year low of $71.75 and a 1 year high of $91.65. The firm has a market cap of $5.15 billion, a PE ratio of 11.77 and a beta of 0.32. The company has a 50 day simple moving average of $83.13 and a two-hundred day simple moving average of $82.35.

Selective Insurance Group (NASDAQ:SIGIGet Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business posted $1.76 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts expect that Selective Insurance Group will post 7.81 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 2.0%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 23.53%.

Institutional Trading of Selective Insurance Group

Several hedge funds have recently added to or reduced their stakes in SIGI. AQR Capital Management LLC grew its stake in shares of Selective Insurance Group by 56.3% during the fourth quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock valued at $339,662,000 after buying an additional 1,462,838 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Selective Insurance Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,660,758 shares of the insurance provider’s stock valued at $138,976,000 after acquiring an additional 8,580 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Selective Insurance Group by 33.3% in the 1st quarter. First Trust Advisors LP now owns 1,381,867 shares of the insurance provider’s stock valued at $104,179,000 after acquiring an additional 345,348 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Selective Insurance Group by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,359,224 shares of the insurance provider’s stock valued at $102,473,000 after acquiring an additional 44,532 shares during the period. Finally, Norges Bank purchased a new stake in Selective Insurance Group during the 4th quarter valued at about $65,625,000. 82.88% of the stock is owned by institutional investors.

About Selective Insurance Group

(Get Free Report)

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.

Recommended Stories

Analyst Recommendations for Selective Insurance Group (NASDAQ:SIGI)

Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.