BidaskClub upgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a hold rating to a buy rating in a research report report published on Saturday.
A number of other research firms also recently commented on SIGI. ValuEngine raised shares of Selective Insurance Group from a hold rating to a buy rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods set a $62.00 target price on shares of Selective Insurance Group and gave the stock a hold rating in a research report on Monday, February 5th. Zacks Investment Research raised shares of Selective Insurance Group from a sell rating to a buy rating and set a $67.00 target price for the company in a research report on Wednesday, December 13th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $59.00 target price on shares of Selective Insurance Group in a research report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $62.67.
Shares of Selective Insurance Group (SIGI) opened at $61.30 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.29. Selective Insurance Group has a 1 year low of $44.65 and a 1 year high of $62.40. The company has a market cap of $3,605.27, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Wednesday, February 14th. Selective Insurance Group’s payout ratio is 25.26%.
Hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. bought a new stake in shares of Selective Insurance Group during the 3rd quarter valued at $721,000. Aurora Investment Counsel bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at $2,159,000. Stifel Financial Corp grew its position in shares of Selective Insurance Group by 5.9% during the 3rd quarter. Stifel Financial Corp now owns 261,998 shares of the insurance provider’s stock valued at $14,111,000 after acquiring an additional 14,593 shares during the period. Wells Fargo & Company MN grew its position in shares of Selective Insurance Group by 14.0% during the 3rd quarter. Wells Fargo & Company MN now owns 151,358 shares of the insurance provider’s stock valued at $8,150,000 after acquiring an additional 18,601 shares during the period. Finally, Ramsey Quantitative Systems bought a new stake in shares of Selective Insurance Group during the 4th quarter valued at $319,000. 78.71% of the stock is owned by hedge funds and other institutional investors.
About Selective Insurance Group
Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.
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