Analysts Set Selective Insurance Group, Inc. (NASDAQ:SIGI) PT at $83.00

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $83.00.

Several research firms have recently weighed in on SIGI. Keefe, Bruyette & Woods decreased their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a report on Tuesday, January 6th. Piper Sandler raised their target price on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada assumed coverage on shares of Selective Insurance Group in a research report on Monday, November 24th. They issued an “outperform” rating and a $95.00 target price for the company.

Selective Insurance Group Price Performance

NASDAQ SIGI opened at $76.49 on Friday. Selective Insurance Group has a one year low of $71.75 and a one year high of $93.38. The stock has a 50-day moving average of $83.23 and a 200 day moving average of $81.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 10.21 and a beta of 0.23.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.33. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. On average, sell-side analysts forecast that Selective Insurance Group will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, February 13th. Selective Insurance Group’s dividend payout ratio (DPR) is 22.96%.

Institutional Trading of Selective Insurance Group

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Selective Insurance Group by 56.3% in the fourth quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock worth $339,662,000 after purchasing an additional 1,462,838 shares during the last quarter. Norges Bank bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at about $65,625,000. First Trust Advisors LP increased its position in shares of Selective Insurance Group by 239.1% during the 4th quarter. First Trust Advisors LP now owns 1,036,519 shares of the insurance provider’s stock valued at $86,726,000 after purchasing an additional 730,890 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Selective Insurance Group by 4,903.4% in the 2nd quarter. Franklin Resources Inc. now owns 347,933 shares of the insurance provider’s stock worth $30,148,000 after purchasing an additional 340,979 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Selective Insurance Group by 1,299.9% in the 3rd quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after purchasing an additional 280,395 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

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.