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

Selective Insurance Group (NASDAQ:SIGI) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $62.67.

SIGI has been the subject of a number of analyst reports. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Royal Bank of Canada restated a “hold” rating and set a $59.00 target price on shares of Selective Insurance Group in a report on Friday, December 8th. Keefe, Bruyette & Woods set a $55.00 target price on Selective Insurance Group and gave the stock a “hold” rating in a report on Sunday, October 29th. Zacks Investment Research lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Saturday, October 14th. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a report on Friday, October 27th.

In other news, Director Michael J. Morrissey sold 1,875 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $61.47, for a total transaction of $115,256.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Burville sold 2,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $58.53, for a total value of $117,060.00. Following the sale, the director now owns 82,898 shares of the company’s stock, valued at approximately $4,852,019.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,775 shares of company stock valued at $2,646,564. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in shares of Selective Insurance Group by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after acquiring an additional 23 shares during the period. Advisor Group Inc. increased its position in shares of Selective Insurance Group by 41.3% in the 2nd quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock valued at $182,000 after acquiring an additional 1,061 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Selective Insurance Group in the 2nd quarter valued at $199,000. Eqis Capital Management Inc. acquired a new position in shares of Selective Insurance Group in the 3rd quarter valued at $201,000. Finally, McQueen Ball & Associates Inc. acquired a new position in shares of Selective Insurance Group in the 4th quarter valued at $203,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Selective Insurance Group (NASDAQ SIGI) opened at $57.10 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $3,381.30, a P/E ratio of 20.04, a P/E/G ratio of 0.84 and a beta of 1.37. Selective Insurance Group has a twelve month low of $42.80 and a twelve month high of $62.40.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $633.70 million during the quarter, compared to analyst estimates of $632.30 million. Selective Insurance Group had a return on equity of 11.11% and a net margin of 6.83%. Selective Insurance Group’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. research analysts expect that Selective Insurance Group will post 3.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.26%. Selective Insurance Group’s dividend payout ratio is presently 25.26%.

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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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