Selective Insurance Group (NASDAQ:SIGI) Issues Earnings Results

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) posted its quarterly earnings data on Wednesday. The insurance provider reported $1.33 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.55), Briefing.com reports. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company posted $1.44 earnings per share. Selective Insurance Group's quarterly revenue was up 16.5% compared to the same quarter last year.

Selective Insurance Group Stock Down 6.4 %

NASDAQ:SIGI traded down $6.51 during mid-day trading on Thursday, reaching $95.77. The stock had a trading volume of 734,233 shares, compared to its average volume of 324,964. The business's 50 day moving average is $103.63 and its 200 day moving average is $102.75. Selective Insurance Group has a fifty-two week low of $91.99 and a fifty-two week high of $109.58. The stock has a market cap of $5.82 billion, a P/E ratio of 16.43, a PEG ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have commented on SIGI. Keefe, Bruyette & Woods reduced 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 research note on Tuesday, February 6th. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a report on Monday, April 15th. Piper Sandler reiterated a "neutral" rating and issued a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st. Oppenheimer reiterated an "outperform" rating and issued a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. Finally, Royal Bank of Canada dropped their target price on 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of "Hold" and a consensus price target of $105.17.

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.