Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $81.00.
A number of equities research analysts have commented on SIGI shares. Zacks Research upgraded shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Piper Sandler decreased their target price on shares of Selective Insurance Group from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Keefe, Bruyette & Woods decreased their target price on shares of Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. Morgan Stanley raised their target price on shares of Selective Insurance Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th.
View Our Latest Stock Report on Selective Insurance Group
Insider Buying and Selling at Selective Insurance Group
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Olde Wealth Management LLC purchased a new position in shares of Selective Insurance Group in the first quarter valued at $28,000. Parallel Advisors LLC grew its holdings in shares of Selective Insurance Group by 219.5% in the second quarter. Parallel Advisors LLC now owns 361 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Amundi grew its holdings in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 311 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Selective Insurance Group in the first quarter valued at $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Selective Insurance Group by 752.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 474 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.
Selective Insurance Group Price Performance
Shares of NASDAQ:SIGI opened at $81.18 on Thursday. The firm’s 50 day moving average price is $79.82 and its 200-day moving average price is $83.79. Selective Insurance Group has a twelve month low of $71.75 and a twelve month high of $103.56. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.94 billion, a PE ratio of 13.29 and a beta of 0.39.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last released its earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Selective Insurance Group had a net margin of 7.50% and a return on equity of 12.61%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business earned $1.40 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Selective Insurance Group will post 7.62 EPS for the current year.
Selective Insurance Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.43 per share. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.72 dividend on an annualized basis and a yield of 2.1%. Selective Insurance Group’s payout ratio is 24.88%.
About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.
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