Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) has received a consensus recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $101.83.
A number of equities research analysts have recently commented on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Wednesday, October 21st. Weiss Ratings cut Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. Wall Street Zen upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Royal Bank Of Canada boosted their target price on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $115.00 target price on shares of Selective Insurance Group in a research report on Tuesday, October 13th.
Get Our Latest Research Report on SIGI
Insider Activity
In related news, Director Cynthia Nicholson sold 3,691 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $98.71, for a total value of $364,338.61. Following the completion of the sale, the director owned 17,463 shares in the company, valued at approximately $1,723,772.73. This represents a 17.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.
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 company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Selective Insurance Group during the 2nd quarter valued at $26,000. IFP Advisors Inc lifted its holdings in shares of Selective Insurance Group by 51.3% in the third quarter. IFP Advisors Inc now owns 596 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 202 shares in the last quarter. Westpac Banking Corp purchased a new stake in shares of Selective Insurance Group in the second quarter valued at $72,000. Farther Finance Advisors LLC boosted its position in shares of Selective Insurance Group by 51.2% in the third quarter. Farther Finance Advisors LLC now owns 812 shares of the insurance provider’s stock worth $68,000 after buying an additional 275 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Selective Insurance Group in the second quarter worth $89,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
Selective Insurance Group Stock Performance
Shares of SIGI opened at $97.73 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.29 and a quick ratio of 0.29. The firm’s 50 day moving average is $89.26 and its 200-day moving average is $87.43. Selective Insurance Group has a 12-month low of $72.78 and a 12-month high of $101.25. The stock has a market capitalization of $5.82 billion, a P/E ratio of 11.75 and a beta of 0.26.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last issued its earnings results on Thursday, October 22nd. The insurance provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.46. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a net margin of 9.40% and a return on equity of 15.60%. During the same period last year, the firm posted $1.85 earnings per share. Equities research analysts anticipate that Selective Insurance Group will post 8.50 EPS for the current fiscal year.
Selective Insurance Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.0%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, November 16th. Selective Insurance Group’s payout ratio is 20.67%.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc is a holding company for a group of property and casualty insurance subsidiaries. Founded in 1926 and headquartered in Branchville, New Jersey, the company provides insurance products and related services primarily through a network of independent agents.
Selective serves commercial, personal and public-sector customers. Its commercial offerings include business owners policies, commercial automobile, workers’ compensation, general liability, commercial property and other specialty coverages.
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