Selective Insurance Group (NASDAQ:SIGI) Receives Market Perform Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of Selective Insurance Group (NASDAQ:SIGI - Free Report) in a research note released on Monday, Benzinga reports.

SIGI has been the topic of a number of other research reports. Oppenheimer reiterated an outperform rating and set a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. Keefe, Bruyette & Woods reduced their target price on Selective Insurance Group from $111.00 to $109.00 and set a market perform rating on the stock in a report on Tuesday, February 6th. Piper Sandler reissued a neutral rating and issued a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. Finally, Royal Bank of Canada dropped their price target on Selective Insurance Group from $108.00 to $105.00 and set a sector perform rating on the stock in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Selective Insurance Group has an average rating of Hold and a consensus target price of $105.17.

Selective Insurance Group Stock Down 0.2 %

Shares of SIGI stock traded down $0.20 during midday trading on Monday, reaching $100.99. 223,006 shares of the stock were exchanged, compared to its average volume of 307,433. Selective Insurance Group has a 1 year low of $91.99 and a 1 year high of $109.58. The company's 50 day moving average is $103.51 and its two-hundred day moving average is $102.88. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.14 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. On average, equities research analysts predict that Selective Insurance Group will post 7.67 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a $0.35 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. Selective Insurance Group's dividend payout ratio is currently 24.01%.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of the company's 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 directly owns 10,511 shares of the company's stock, valued at approximately $1,112,904.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Michigan Retirement System lifted its holdings in shares of Selective Insurance Group by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider's stock valued at $1,451,000 after buying an additional 100 shares during the period. Blue Trust Inc. lifted its holdings in shares of Selective Insurance Group by 68.9% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider's stock valued at $27,000 after buying an additional 104 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Selective Insurance Group by 2.0% during the 4th quarter. Apollon Wealth Management LLC now owns 5,628 shares of the insurance provider's stock valued at $560,000 after buying an additional 109 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Selective Insurance Group by 0.5% during the 4th quarter. Teacher Retirement System of Texas now owns 27,092 shares of the insurance provider's stock valued at $2,695,000 after buying an additional 123 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Selective Insurance Group by 12.3% during the 3rd quarter. Fifth Third Bancorp now owns 1,169 shares of the insurance provider's stock valued at $121,000 after buying an additional 128 shares during the period. 82.88% of the stock is owned by institutional investors.

About Selective Insurance Group

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.