Selective Insurance Group's (SIGI) Neutral Rating Reiterated at Piper Sandler

Selective Insurance Group (NASDAQ:SIGI - Get Free Report)'s stock had its "neutral" rating reiterated by equities research analysts at Piper Sandler in a research note issued to investors on Monday, Benzinga reports. They currently have a $104.00 target price on the insurance provider's stock. Piper Sandler's price target would suggest a potential downside of 2.71% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods dropped 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. Royal Bank of Canada dropped 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $105.17.

Selective Insurance Group Price Performance

Selective Insurance Group stock traded down $2.27 on Monday, reaching $106.90. The company's stock had a trading volume of 267,760 shares, compared to its average volume of 320,185. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.79 and a beta of 0.55. The business's fifty day moving average price is $103.52 and its 200 day moving average price is $102.88. Selective Insurance Group has a twelve month low of $91.99 and a twelve month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share (EPS) 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 business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Equities analysts expect that Selective Insurance Group will post 7.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Natixis Advisors L.P. boosted its position in Selective Insurance Group by 6.3% during the third quarter. Natixis Advisors L.P. now owns 89,197 shares of the insurance provider's stock valued at $9,203,000 after purchasing an additional 5,289 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Selective Insurance Group by 45.6% during the third quarter. Envestnet Asset Management Inc. now owns 94,670 shares of the insurance provider's stock valued at $9,767,000 after purchasing an additional 29,662 shares during the last quarter. Retirement Systems of Alabama boosted its position in Selective Insurance Group by 24.6% during the third quarter. Retirement Systems of Alabama now owns 147,624 shares of the insurance provider's stock valued at $15,230,000 after purchasing an additional 29,167 shares during the last quarter. Vanguard Group Inc. boosted its position in Selective Insurance Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 6,165,209 shares of the insurance provider's stock valued at $636,065,000 after purchasing an additional 41,639 shares during the last quarter. Finally, EULAV Asset Management boosted its position in Selective Insurance Group by 56.8% during the third quarter. EULAV Asset Management now owns 96,293 shares of the insurance provider's stock valued at $9,935,000 after purchasing an additional 34,900 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

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.