Selective Insurance Group (NASDAQ:SIGI) Given “Market Perform” Rating at JMP Securities

JMP Securities restated their market perform rating on shares of Selective Insurance Group (NASDAQ:SIGI) in a research note released on Monday morning, Benzinga reports.

A number of other analysts also recently weighed in on SIGI. Royal Bank of Canada decreased their price objective on Selective Insurance Group from $108.00 to $105.00 and set a sector perform rating for the company in a report on Friday, February 2nd. Keefe, Bruyette & Woods decreased their price objective on Selective Insurance Group from $111.00 to $109.00 and set a market perform rating for the company in a report on Tuesday, February 6th. Piper Sandler reaffirmed a neutral rating and set a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. Finally, Oppenheimer reaffirmed an outperform rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. One equities 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $105.17.

Selective Insurance Group Stock Down 0.2 %

Shares of NASDAQ:SIGI opened at $100.99 on Monday. The company has a market capitalization of $6.14 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. Selective Insurance Group has a 52-week low of $91.99 and a 52-week high of $109.58. The company has a fifty day moving average of $103.51 and a 200-day moving average of $102.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. On average, equities analysts predict that Selective Insurance Group will post 7.67 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. Selective Insurance Group’s dividend payout ratio is presently 24.01%.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.88, for a total value of $278,040.88. Following the sale, the chief operating officer now owns 10,511 shares in the company, valued at approximately $1,112,904.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Selective Insurance Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Janiczek Wealth Management LLC increased its stake in Selective Insurance Group by 186.5% in the 3rd quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider’s stock valued at $26,000 after buying an additional 166 shares during the last quarter. Blue Trust Inc. increased its stake in Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Rise Advisors LLC purchased a new stake in Selective Insurance Group in the 1st quarter valued at about $27,000. Lazard Asset Management LLC purchased a new stake in Selective Insurance Group in the 3rd quarter valued at about $36,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Selective Insurance Group in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.