Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Average Recommendation of “Hold” by Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have received an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $83.00.

Several research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research report on Tuesday, January 6th. Morgan Stanley lifted their target price on shares of Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, November 17th. Royal Bank Of Canada began coverage on shares of Selective Insurance Group in a report on Monday, November 24th. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, BMO Capital Markets downgraded Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a report on Tuesday, October 28th.

Hedge Funds Weigh In On Selective Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in Selective Insurance Group by 56.3% in the fourth quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock valued at $339,662,000 after purchasing an additional 1,462,838 shares in the last quarter. Norges Bank acquired a new stake in shares of Selective Insurance Group in the 4th quarter valued at about $65,625,000. First Trust Advisors LP increased its position in Selective Insurance Group by 239.1% in the 4th quarter. First Trust Advisors LP now owns 1,036,519 shares of the insurance provider’s stock valued at $86,726,000 after buying an additional 730,890 shares in the last quarter. Franklin Resources Inc. raised its stake in Selective Insurance Group by 4,903.4% during the 2nd quarter. Franklin Resources Inc. now owns 347,933 shares of the insurance provider’s stock worth $30,148,000 after buying an additional 340,979 shares during the period. Finally, American Century Companies Inc. raised its stake in Selective Insurance Group by 1,299.9% during the 3rd quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock worth $24,480,000 after buying an additional 280,395 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Stock Up 0.1%

Shares of SIGI opened at $86.54 on Wednesday. The stock’s 50-day moving average price is $84.32 and its two-hundred day moving average price is $80.78. Selective Insurance Group has a 12 month low of $71.75 and a 12 month high of $93.38. The company has a market capitalization of $5.20 billion, a PE ratio of 11.55 and a beta of 0.23. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.33. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Selective Insurance Group had a return on equity of 14.23% and a net margin of 8.74%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. On average, analysts anticipate that Selective Insurance Group will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.72 annualized dividend and a yield of 2.0%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.96%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.