Selective Insurance Group (NASDAQ:SIGI) Receives Average Recommendation of “Hold” from Analysts

Selective Insurance Group (NASDAQ:SIGI) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $68.00.

Several equities analysts recently issued reports on the company. BidaskClub lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday. Buckingham Research increased their target price on Selective Insurance Group from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, ValuEngine cut Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

In other news, Director William M. Rue sold 7,795 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $77.64, for a total transaction of $605,203.80. Following the completion of the transaction, the director now directly owns 337,804 shares in the company, valued at approximately $26,227,102.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Cambria Investment Management L.P. purchased a new position in Selective Insurance Group during the first quarter worth $147,000. Royal Bank of Canada lifted its position in shares of Selective Insurance Group by 25.3% during the 2nd quarter. Royal Bank of Canada now owns 2,394 shares of the insurance provider’s stock valued at $179,000 after buying an additional 484 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Selective Insurance Group during the 2nd quarter valued at approximately $184,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Selective Insurance Group during the 2nd quarter valued at approximately $191,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter valued at approximately $202,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Shares of Selective Insurance Group stock traded down $0.30 during midday trading on Friday, hitting $75.37. The company’s stock had a trading volume of 238,051 shares, compared to its average volume of 197,886. The firm has a market capitalization of $4.46 billion, a P/E ratio of 20.59, a PEG ratio of 1.63 and a beta of 0.82. The stock has a 50-day simple moving average of $78.36 and a 200-day simple moving average of $72.37. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. Selective Insurance Group has a 1-year low of $56.22 and a 1-year high of $81.35.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.10. Selective Insurance Group had a return on equity of 13.53% and a net margin of 8.65%. The business had revenue of $708.20 million during the quarter, compared to analysts’ expectations of $707.83 million. During the same quarter last year, the firm posted $1.01 earnings per share. Selective Insurance Group’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that Selective Insurance Group will post 4.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.06%. Selective Insurance Group’s dividend payout ratio is 21.86%.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus 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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