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

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $83.00.

Several analysts recently weighed in on the company. Royal Bank Of Canada began coverage on Selective Insurance Group in a research note on Monday, November 24th. They issued an “outperform” rating and a $95.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a report on Tuesday, January 6th. Morgan Stanley upped their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Monday, November 17th. Piper Sandler raised their target price on shares of Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Finally, BMO Capital Markets cut shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 target price on the stock. in a research note on Tuesday, October 28th.

Institutional Trading of Selective Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new position in Selective Insurance Group in the 4th quarter valued at approximately $25,000. Los Angeles Capital Management LLC bought a new stake in Selective Insurance Group during the 4th quarter worth approximately $25,000. First Horizon Corp acquired a new position in Selective Insurance Group in the 3rd quarter valued at approximately $29,000. True Wealth Design LLC raised its stake in shares of Selective Insurance Group by 45.9% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 311 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $86.54 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.20 billion, a PE ratio of 11.55 and a beta of 0.23. The company has a 50 day moving average of $84.32 and a 200-day moving average of $80.78. Selective Insurance Group has a 1-year low of $71.75 and a 1-year high of $93.38.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.24 by $0.33. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, equities research analysts forecast that Selective Insurance Group will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 13th. Selective Insurance Group’s dividend payout ratio is presently 22.96%.

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.