Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold” for Selective Insurance Group, with five hold, two buy and one sell ratings. The average 12-month price target is $99.33, compared with the stock’s reported price of $83.60.
• Selective beat quarterly expectations, reporting $1.95 in EPS versus the $1.66 consensus and revenue of $1.39 billion versus $1.30 billion expected. Analysts project full-year EPS of approximately $8.10.
• The company pays a quarterly dividend of $0.43, equivalent to a 2.1% annual yield, while institutional investors own 82.88% of outstanding shares. An executive recently sold 17,100 shares, reducing his direct stake by 50.79%.

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have been given an average recommendation of "Hold" by the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $99.33.

Several research firms have recently issued reports on SIGI. Royal Bank Of Canada raised their price objective on Selective Insurance Group from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Piper Sandler decreased their price target on Selective Insurance Group from $105.00 to $97.00 and set a "neutral" rating on the stock in a report on Monday. BMO Capital Markets lowered Selective Insurance Group from an "outperform" rating to a "market perform" rating and set a $97.00 price target on the stock. in a report on Tuesday, July 28th. Weiss Ratings downgraded Selective Insurance Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley lifted their price objective on shares of Selective Insurance Group from $72.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday, July 6th.

Selective Insurance Group Stock Performance

Selective Insurance Group stock opened at $83.60 on Thursday. The company's 50-day moving average price is $91.60 and its 200-day moving average price is $88.48. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.98 billion, a PE ratio of 10.37 and a beta of 0.29. Selective Insurance Group has a twelve month low of $72.78 and a twelve month high of $100.40.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.29. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a net margin of 9.10% and a return on equity of 14.51%. During the same quarter last year, the firm earned $1.31 EPS. On average, equities research analysts forecast that Selective Insurance Group will post 8.1 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, August 17th. Selective Insurance Group's dividend payout ratio (DPR) is 21.34%.

Insider Activity at Selective Insurance Group

In related news, EVP Michael Lanza sold 17,100 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the transaction, the executive vice president directly owned 16,565 shares in the company, valued at approximately $1,557,772.60. This represents a 50.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company's stock.

Institutional Trading of Selective Insurance Group

Several institutional investors have recently added to or reduced their stakes in SIGI. Oak Associates Ltd. OH grew its stake in shares of Selective Insurance Group by 1.8% during the first quarter. Oak Associates Ltd. OH now owns 7,124 shares of the insurance provider's stock valued at $537,000 after buying an additional 125 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Selective Insurance Group by 0.5% in the first quarter. Royal Bank of Canada now owns 35,809 shares of the insurance provider's stock worth $2,699,000 after buying an additional 192 shares during the period. State of Michigan Retirement System lifted its stake in shares of Selective Insurance Group by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 14,481 shares of the insurance provider's stock worth $1,092,000 after acquiring an additional 200 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Selective Insurance Group by 7.5% during the 2nd quarter. Baron Wealth Management LLC now owns 3,722 shares of the insurance provider's stock worth $361,000 after acquiring an additional 261 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Selective Insurance Group during the 2nd quarter worth approximately $26,000. Institutional investors own 82.88% of the company's stock.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. Founded in 1926, the company provides property and casualty insurance through a network of independent agents and operates primarily in the United States.

Selective offers commercial insurance products for businesses, including property, general liability, commercial automobile, workers' compensation and related coverage. Its personal insurance business provides products such as homeowners, renters and automobile insurance.

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