Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $105.17 Average Target Price from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $105.17.

SIGI has been the subject of a number of recent analyst reports. Oppenheimer restated an "outperform" rating and set a $120.00 price objective on shares of Selective Insurance Group in a report on Friday, April 5th. Royal Bank of Canada cut their price target on shares of Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Finally, Piper Sandler reissued a "neutral" rating and issued a $104.00 price objective on shares of Selective Insurance Group in a research report on Monday, April 1st.

Selective Insurance Group Trading Down 0.9 %

NASDAQ SIGI traded down $0.96 during trading hours on Friday, hitting $101.19. 153,048 shares of the company were exchanged, compared to its average volume of 343,663. Selective Insurance Group has a 52 week low of $91.99 and a 52 week high of $109.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $103.48 and a 200 day moving average price of $102.90. The stock has a market cap of $6.15 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Analysts forecast that Selective Insurance Group will post 7.67 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. Selective Insurance Group's dividend payout ratio is currently 24.01%.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the transaction, the chief operating officer now directly owns 10,511 shares in the company, valued at $1,112,904.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Selective Insurance Group in the first quarter valued at approximately $27,000. Janiczek Wealth Management LLC boosted its position in shares of Selective Insurance Group by 186.5% during the 3rd quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 166 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 104 shares during the period. Lazard Asset Management LLC acquired a new stake in Selective Insurance Group during the third quarter worth about $36,000. Finally, Point72 Hong Kong Ltd purchased a new position in Selective Insurance Group during the fourth quarter worth about $40,000. Hedge funds and other institutional investors 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.