Selective Insurance Group (SIGI) Receives Average Recommendation of “Hold” from Analysts

Selective Insurance Group (NASDAQ:SIGI) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $56.25.

SIGI has been the subject of several analyst reports. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a report on Friday, October 27th. Zacks Investment Research lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Saturday, October 14th. Royal Bank of Canada restated a “hold” rating and issued a $59.00 target price on shares of Selective Insurance Group in a report on Friday, December 8th. BidaskClub lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods set a $55.00 target price on shares of Selective Insurance Group and gave the stock a “hold” rating in a report on Sunday, October 29th.

In related news, Director Paul D. Bauer sold 28,840 shares of Selective Insurance Group stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $61.14, for a total transaction of $1,763,277.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Burville sold 600 shares of Selective Insurance Group stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $59.10, for a total transaction of $35,460.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,375 shares of company stock valued at $2,740,784 in the last quarter. 3.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Selective Insurance Group by 0.3% during the 2nd quarter. BlackRock Inc. now owns 7,444,606 shares of the insurance provider’s stock valued at $372,603,000 after buying an additional 19,072 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Selective Insurance Group by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,296,404 shares of the insurance provider’s stock valued at $265,086,000 after buying an additional 81,335 shares in the last quarter. State Street Corp lifted its holdings in Selective Insurance Group by 3.9% during the 2nd quarter. State Street Corp now owns 1,414,041 shares of the insurance provider’s stock valued at $70,766,000 after buying an additional 53,087 shares in the last quarter. Northern Trust Corp lifted its holdings in Selective Insurance Group by 16.2% during the 2nd quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock valued at $68,044,000 after buying an additional 189,401 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Selective Insurance Group by 130.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 995,781 shares of the insurance provider’s stock valued at $49,838,000 after buying an additional 563,487 shares in the last quarter. Institutional investors own 77.87% of the company’s stock.

Shares of Selective Insurance Group (NASDAQ SIGI) opened at $59.15 on Tuesday. The stock has a market cap of $3,453.85, a PE ratio of 19.65, a PEG ratio of 0.87 and a beta of 1.45. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a twelve month low of $38.50 and a twelve month high of $62.40.

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

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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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