Selective Insurance Group (SIGI) Stock Rating Upgraded by ValuEngine

Selective Insurance Group (NASDAQ:SIGI) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other analysts also recently issued reports on the company. BidaskClub raised Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Credit Suisse Group started coverage on Selective Insurance Group in a report on Tuesday, August 7th. They issued an “underperform” rating and a $54.00 price target on the stock. Boenning Scattergood reissued a “hold” rating on shares of Selective Insurance Group in a report on Monday. Finally, Zacks Investment Research downgraded Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $60.40.

Shares of NASDAQ SIGI opened at $66.62 on Monday. The company has a market capitalization of $3.64 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.12 and a beta of 1.26. Selective Insurance Group has a 12-month low of $53.55 and a 12-month high of $66.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.33.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.10. The business had revenue of $666.70 million for the quarter, compared to the consensus estimate of $665.10 million. Selective Insurance Group had a return on equity of 11.62% and a net margin of 6.34%. On average, research analysts forecast that Selective Insurance Group will post 3.4 earnings per share for the current year.

In other Selective Insurance Group news, Director Terrence W. Cavanaugh bought 1,000 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $61.47 per share, with a total value of $61,470.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John J. Marchioni sold 30,000 shares of Selective Insurance Group stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $60.78, for a total value of $1,823,400.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado raised its stake in Selective Insurance Group by 5.4% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 428,354 shares of the insurance provider’s stock valued at $27,200,000 after acquiring an additional 22,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Selective Insurance Group during the 3rd quarter valued at $4,016,000. First Trust Advisors LP increased its position in shares of Selective Insurance Group by 21.9% during the 3rd quarter. First Trust Advisors LP now owns 14,683 shares of the insurance provider’s stock valued at $932,000 after purchasing an additional 2,642 shares during the period. Ramsey Quantitative Systems increased its position in shares of Selective Insurance Group by 26.1% during the 3rd quarter. Ramsey Quantitative Systems now owns 6,229 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 1,290 shares during the period. Finally, McQueen Ball & Associates Inc. acquired a new position in shares of Selective Insurance Group during the 3rd quarter valued at $219,000. 78.27% of the stock is currently owned by hedge funds and other institutional investors.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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Analyst Recommendations for Selective Insurance Group (NASDAQ:SIGI)

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