Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Consensus Rating of “Hold” by Analysts

Selective Insurance Group, Inc. (NASDAQ:SIGI) has been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $81.60.

A number of equities analysts have issued reports on SIGI shares. BMO Capital Markets cut Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 target price for the company. in a report on Tuesday, October 28th. Piper Sandler upped their price objective on Selective Insurance Group from $76.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Keefe, Bruyette & Woods dropped 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. Morgan Stanley boosted their target price on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Selective Insurance Group in a research report on Wednesday, October 8th.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $80.07 on Friday. Selective Insurance Group has a twelve month low of $71.75 and a twelve month high of $96.49. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $81.56 and its 200 day simple moving average is $80.60. The firm has a market capitalization of $4.84 billion, a PE ratio of 12.34 and a beta of 0.24.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $1.40 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts anticipate that Selective Insurance Group will post 7.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in Selective Insurance Group by 62.9% in the third quarter. AQR Capital Management LLC now owns 2,596,709 shares of the insurance provider’s stock valued at $208,048,000 after acquiring an additional 1,003,064 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Selective Insurance Group by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,270,387 shares of the insurance provider’s stock worth $102,982,000 after purchasing an additional 17,511 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Selective Insurance Group by 2.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,150,662 shares of the insurance provider’s stock worth $99,705,000 after purchasing an additional 22,410 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Selective Insurance Group by 6.0% in the 2nd quarter. Boston Trust Walden Corp now owns 1,109,922 shares of the insurance provider’s stock valued at $96,175,000 after purchasing an additional 63,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Selective Insurance Group by 0.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 897,554 shares of the insurance provider’s stock worth $77,773,000 after buying an additional 5,683 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

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.