Selective Insurance Group (NASDAQ:SIGI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank of Canada reissued a “hold” rating and issued a $50.00 target price on shares of Selective Insurance Group in a research note on Tuesday, October 3rd. Zacks Investment Research raised Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods set a $48.00 price target on Selective Insurance Group and gave the company a “hold” rating in a report on Tuesday, August 15th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Friday, October 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $54.13.

Selective Insurance Group (NASDAQ SIGI) traded up $1.15 during midday trading on Tuesday, hitting $59.55. The stock had a trading volume of 1,270,000 shares, compared to its average volume of 137,097. Selective Insurance Group has a 52-week low of $38.50 and a 52-week high of $62.40. The stock has a market capitalization of $3,477.18, a PE ratio of 19.78, a P/E/G ratio of 1.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The firm had revenue of $621.30 million for the quarter, compared to analysts’ expectations of $625.80 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. equities research analysts expect that Selective Insurance Group will post 3.08 earnings per share for the current year.

In other Selective Insurance Group news, Director Paul D. Bauer sold 28,840 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $61.14, for a total value of $1,763,277.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Burville sold 600 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $59.10, for a total value of $35,460.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,375 shares of company stock worth $2,740,784. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System lifted its holdings in Selective Insurance Group by 4.6% in the third quarter. California Public Employees Retirement System now owns 114,194 shares of the insurance provider’s stock valued at $6,149,000 after acquiring an additional 4,994 shares during the period. Narus Financial Partners LLC raised its stake in shares of Selective Insurance Group by 34.3% in the third quarter. Narus Financial Partners LLC now owns 7,557 shares of the insurance provider’s stock worth $407,000 after buying an additional 1,930 shares during the period. Stifel Financial Corp raised its stake in shares of Selective Insurance Group by 5.9% in the third quarter. Stifel Financial Corp now owns 261,998 shares of the insurance provider’s stock worth $14,111,000 after buying an additional 14,593 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Selective Insurance Group by 5.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 339,981 shares of the insurance provider’s stock worth $18,308,000 after buying an additional 18,618 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Selective Insurance Group by 14.0% in the third quarter. Wells Fargo & Company MN now owns 151,358 shares of the insurance provider’s stock worth $8,150,000 after buying an additional 18,601 shares during the period. 77.83% of the stock is currently owned by institutional investors.

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About Selective Insurance Group

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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