Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $46.41.

A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Selective Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a research note on Tuesday, May 2nd. BidaskClub downgraded shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a research note on Wednesday, July 12th.

Shares of Selective Insurance Group (SIGI) opened at 51.10 on Tuesday. Selective Insurance Group has a 52-week low of $34.95 and a 52-week high of $53.75. The stock’s 50 day moving average is $50.74 and its 200 day moving average is $47.47. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 17.50 and a beta of 1.45.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, April 26th. The insurance provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.13. The company had revenue of $600.50 million for the quarter, compared to the consensus estimate of $608.40 million. Selective Insurance Group had a net margin of 7.37% and a return on equity of 11.14%. Selective Insurance Group’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. On average, equities analysts expect that Selective Insurance Group will post $3.11 earnings per share for the current fiscal year.

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In related news, Director Paul D. Bauer sold 2,000 shares of Selective Insurance Group stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $50.20, for a total transaction of $100,400.00. Following the sale, the director now owns 76,063 shares of the company’s stock, valued at approximately $3,818,362.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Rue sold 12,000 shares of Selective Insurance Group stock in a transaction on Monday, May 1st. The stock was sold at an average price of $52.24, for a total transaction of $626,880.00. Following the sale, the director now directly owns 357,164 shares in the company, valued at approximately $18,658,247.36. The disclosure for this sale can be found here. Insiders have sold a total of 29,064 shares of company stock worth $1,481,797 in the last ninety days. 3.00% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. Tributary Capital Management LLC increased its stake in Selective Insurance Group by 11.9% in the second quarter. Tributary Capital Management LLC now owns 531,801 shares of the insurance provider’s stock valued at $26,617,000 after buying an additional 56,446 shares during the period. Dubuque Bank & Trust Co. increased its stake in Selective Insurance Group by 8.7% in the second quarter. Dubuque Bank & Trust Co. now owns 7,923 shares of the insurance provider’s stock valued at $397,000 after buying an additional 636 shares during the period. US Bancorp DE increased its stake in Selective Insurance Group by 4.2% in the second quarter. US Bancorp DE now owns 33,465 shares of the insurance provider’s stock valued at $1,675,000 after buying an additional 1,362 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Selective Insurance Group during the second quarter valued at about $840,000. Finally, First Quadrant L P CA increased its stake in Selective Insurance Group by 560.9% in the second quarter. First Quadrant L P CA now owns 4,078 shares of the insurance provider’s stock valued at $204,000 after buying an additional 3,461 shares during the period. 78.18% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Company Profile

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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