Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Consensus Recommendation of "Hold" by Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have been assigned an average rating of "Hold" from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment 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. The average 1 year price target among brokers that have covered the stock in the last year is $94.00.

SIGI has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Selective Insurance Group from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. BMO Capital Markets boosted their price target on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods decreased their price target on Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Selective Insurance Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $87.06, for a total transaction of $117,705.12. Following the completion of the sale, the chief accounting officer now owns 15,946 shares in the company, valued at approximately $1,388,258.76. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Trading of Selective Insurance Group

Several hedge funds have recently bought and sold shares of SIGI. Olde Wealth Management LLC bought a new stake in Selective Insurance Group during the first quarter valued at about $28,000. Amundi grew its holdings in Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 311 shares during the period. Quarry LP bought a new stake in Selective Insurance Group during the fourth quarter valued at about $38,000. Brooklyn Investment Group bought a new stake in Selective Insurance Group during the first quarter valued at about $38,000. Finally, Toth Financial Advisory Corp bought a new stake in Selective Insurance Group during the first quarter valued at about $41,000. Institutional investors own 82.88% of the company's stock.

Selective Insurance Group Stock Up 0.1%

NASDAQ:SIGI traded up $0.12 during trading hours on Friday, reaching $85.24. 300,339 shares of the company traded hands, compared to its average volume of 391,012. The business's 50-day moving average price is $87.88 and its two-hundred day moving average price is $89.06. The stock has a market capitalization of $5.18 billion, a P/E ratio of 26.47 and a beta of 0.49. Selective Insurance Group has a 1 year low of $78.13 and a 1 year high of $103.56. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts predict that Selective Insurance Group will post 7.62 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, May 15th. Selective Insurance Group's dividend payout ratio (DPR) is presently 41.42%.

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.