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

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $105.17.

Several brokerages recently commented on SIGI. Oppenheimer reiterated an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Royal Bank of Canada cut their target price on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Keefe, Bruyette & Woods decreased their target price on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research report on Tuesday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Finally, Piper Sandler restated a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st.

Selective Insurance Group Trading Down 0.9 %

SIGI opened at $99.00 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group has a one year low of $92.06 and a one year high of $109.58. The company has a market cap of $6.02 billion, a P/E ratio of 17.49, a PEG ratio of 0.77 and a beta of 0.55. The business’s 50-day simple moving average is $103.12 and its 200-day simple moving average is $102.48.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 earnings per share. As a group, equities research analysts expect that Selective Insurance Group will post 7.49 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.41%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 24.74%.

Insider Buying and Selling

In other news, COO Brenda M. Hall sold 2,626 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.88, for a total transaction of $278,040.88. Following the transaction, the chief operating officer now directly owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Rise Advisors LLC acquired a new position in Selective Insurance Group during the first quarter worth about $27,000. Fidelis Capital Partners LLC purchased a new position in Selective Insurance Group in the first quarter valued at about $48,000. Headinvest LLC acquired a new stake in shares of Selective Insurance Group during the 3rd quarter valued at approximately $62,000. Finally, Burkett Financial Services LLC purchased a new stake in shares of Selective Insurance Group during the 4th quarter worth approximately $75,000. 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.