Selective Insurance Group, Inc. (NASDAQ:SIGI) – Boenning Scattergood lowered their FY2017 earnings estimates for shares of Selective Insurance Group in a research note issued on Thursday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings of $2.90 per share for the year, down from their prior forecast of $3.10. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s FY2019 earnings at $3.15 EPS.

SIGI has been the topic of several other research reports. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods set a $48.00 price objective on shares of Selective Insurance Group and gave the stock a “hold” rating in a report on Tuesday, August 15th. Royal Bank Of Canada reissued a “hold” rating and set a $50.00 price objective on shares of Selective Insurance Group in a report on Tuesday, October 3rd. Finally, BidaskClub cut shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.91.

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Shares of Selective Insurance Group (SIGI) opened at 54.35 on Friday. Selective Insurance Group has a 52-week low of $34.95 and a 52-week high of $55.15. The stock has a market cap of $3.17 billion, a P/E ratio of 18.93 and a beta of 1.44. The firm’s 50-day moving average is $51.72 and its 200 day moving average is $50.28.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.05). The firm had revenue of $614.50 million for the quarter, compared to the consensus estimate of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 2,483 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $50.46, for a total transaction of $125,292.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Morrissey sold 665 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.81, for a total transaction of $33,788.65. Following the sale, the director now directly owns 15,177 shares in the company, valued at approximately $771,143.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,148 shares of company stock worth $210,141. 3.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in SIGI. BlackRock Inc. raised its holdings in Selective Insurance Group by 54,172.3% during the first quarter. BlackRock Inc. now owns 7,425,534 shares of the insurance provider’s stock worth $350,112,000 after purchasing an additional 7,411,852 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Selective Insurance Group by 130.3% during the second quarter. Goldman Sachs Group Inc. now owns 995,781 shares of the insurance provider’s stock worth $49,838,000 after purchasing an additional 563,487 shares in the last quarter. Vanguard Group Inc. raised its holdings in Selective Insurance Group by 6.5% during the first quarter. Vanguard Group Inc. now owns 5,215,069 shares of the insurance provider’s stock worth $245,891,000 after purchasing an additional 317,023 shares in the last quarter. Northern Trust Corp raised its holdings in Selective Insurance Group by 16.2% during the second quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock worth $68,044,000 after purchasing an additional 189,401 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Selective Insurance Group by 19.6% during the first quarter. Bank of America Corp DE now owns 845,897 shares of the insurance provider’s stock worth $39,884,000 after purchasing an additional 138,779 shares in the last quarter. 77.73% of the stock is currently owned by 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.

Earnings History and Estimates for Selective Insurance Group (NASDAQ:SIGI)

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