Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $94.00 Average PT from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $94.00.

Several analysts have recently weighed in on SIGI shares. Keefe, Bruyette & Woods reduced their price objective on shares of Selective Insurance Group from $93.00 to $92.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley boosted their price target on shares of Selective Insurance Group from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen raised Selective Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Finally, BMO Capital Markets lifted their target price on Selective Insurance Group from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th.

Insider Activity at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,352 shares of the business's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $87.06, for a total value of $117,705.12. Following the transaction, the chief accounting officer owned 15,946 shares in the company, valued at $1,388,258.76. The trade was a 7.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company's stock.

Institutional Trading of Selective Insurance Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new stake in Selective Insurance Group in the 4th quarter valued at approximately $203,000. Charles Schwab Investment Management Inc. boosted its position in shares of Selective Insurance Group by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider's stock worth $82,693,000 after buying an additional 16,539 shares in the last quarter. Arizona State Retirement System increased its holdings in Selective Insurance Group by 0.7% during the 4th quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider's stock valued at $1,649,000 after acquiring an additional 123 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Selective Insurance Group during the fourth quarter worth about $69,504,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Selective Insurance Group by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,998 shares of the insurance provider's stock valued at $1,590,000 after purchasing an additional 1,706 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Stock Up 0.4%

Shares of SIGI stock traded up $0.37 on Tuesday, reaching $86.33. 345,800 shares of the stock were exchanged, compared to its average volume of 397,378. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 23.36 and a beta of 0.48. The business's 50 day moving average price is $87.07 and its 200 day moving average price is $87.88. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. Selective Insurance Group has a twelve month low of $78.13 and a twelve month high of $103.56.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing analysts' consensus estimates of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.70% and a return on equity of 8.06%. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.30 billion. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. As a group, sell-side analysts expect that Selective Insurance Group will post 7.62 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.76%. Selective Insurance Group's dividend payout ratio is presently 41.42%.

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.