Selective Insurance Group (NASDAQ:SIGI) was downgraded by stock analysts at BidaskClub from a "hold" rating to a "sell" rating in a report issued on Wednesday, BidAskClub reports.
A number of other research analysts have also weighed in on SIGI. TheStreet raised shares of Selective Insurance Group from a "c+" rating to a "b-" rating in a research report on Tuesday, August 25th. Zacks Investment Research lowered shares of Selective Insurance Group from a "buy" rating to a "hold" rating and set a $64.00 price target on the stock. in a research report on Wednesday, September 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and a consensus price target of $57.80.
Selective Insurance Group stock opened at $53.06 on Wednesday. Selective Insurance Group has a 1-year low of $37.05 and a 1-year high of $76.83. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 17.06 and a beta of 0.76. The firm's fifty day moving average price is $57.02 and its two-hundred day moving average price is $52.84. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.24.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. Selective Insurance Group had a net margin of 6.73% and a return on equity of 9.90%. The company had revenue of $682.40 million for the quarter, compared to analyst estimates of $707.28 million. During the same period last year, the firm earned $1.16 earnings per share. The firm's revenue was down 3.6% on a year-over-year basis. On average, research analysts forecast that Selective Insurance Group will post 3.49 EPS for the current year.
Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA raised its position in Selective Insurance Group by 6.0% in the first quarter. BNP Paribas Arbitrage SA now owns 90,933 shares of the insurance provider's stock worth $4,519,000 after acquiring an additional 5,118 shares during the period. Squarepoint Ops LLC bought a new stake in Selective Insurance Group in the first quarter worth about $512,000. Bank of Nova Scotia bought a new stake in Selective Insurance Group in the second quarter worth about $387,000. State of Tennessee Treasury Department purchased a new position in shares of Selective Insurance Group in the first quarter worth about $1,747,000. Finally, Wellington Management Group LLP purchased a new position in shares of Selective Insurance Group in the first quarter worth about $22,207,000. 79.32% of the stock is currently owned by institutional investors and hedge funds.
About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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