Selective Insurance Group (NASDAQ:SIGI) Raised to Moderate Buy at Royal Bank Of Canada

Selective Insurance Group (NASDAQ:SIGI) was upgraded by equities research analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Selective Insurance Group from $84.00 to $82.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. BMO Capital Markets lowered shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Selective Insurance Group in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Monday, November 17th. Finally, Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $81.80.

Selective Insurance Group Stock Performance

SIGI opened at $79.42 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.32. Selective Insurance Group has a 52-week low of $71.75 and a 52-week high of $103.56. The firm has a market cap of $4.80 billion, a P/E ratio of 12.24 and a beta of 0.39. The business’s fifty day moving average is $79.36 and its 200-day moving average is $81.91.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, October 22nd. The insurance provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. Selective Insurance Group had a net margin of 7.78% and a return on equity of 12.96%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $1.40 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Selective Insurance Group will post 7.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in Selective Insurance Group by 1.7% in the first quarter. Hsbc Holdings PLC now owns 10,075 shares of the insurance provider’s stock valued at $922,000 after acquiring an additional 173 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Selective Insurance Group by 13.3% in the 1st quarter. Intech Investment Management LLC now owns 28,854 shares of the insurance provider’s stock worth $2,641,000 after purchasing an additional 3,377 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Selective Insurance Group in the 1st quarter worth $1,007,000. Arkadios Wealth Advisors acquired a new stake in Selective Insurance Group in the 2nd quarter valued at $299,000. Finally, United Services Automobile Association bought a new stake in Selective Insurance Group during the 1st quarter valued at $355,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

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.