Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have been assigned a consensus rating of "Reduce" from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $87.50.
Several analysts recently issued reports on SIGI shares. Keefe, Bruyette & Woods cut their price target on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. BMO Capital Markets set a $88.00 target price on Selective Insurance Group and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley lifted their price objective on shares of Selective Insurance Group from $72.00 to $73.00 and gave the company an "underweight" rating in a research report on Tuesday, October 7th. Piper Sandler cut their price objective on shares of Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Finally, Zacks Research raised Selective Insurance Group from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd.
View Our Latest Stock Analysis on SIGI
Insider Buying and Selling at Selective Insurance Group
In related news, CEO John J. Marchioni purchased 3,200 shares of the company's stock in a transaction on Monday, July 28th. The shares were bought at an average cost of $77.89 per share, for a total transaction of $249,248.00. Following the transaction, the chief executive officer owned 139,775 shares of the company's stock, valued at $10,887,074.75. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Kelly Doherty purchased 1,500 shares of the company's stock in a transaction on Friday, August 1st. The shares were bought at an average price of $77.00 per share, for a total transaction of $115,500.00. Following the completion of the transaction, the director directly owned 27,110 shares in the company, valued at $2,087,470. This represents a 5.86% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 10,602 shares of company stock valued at $817,440. 1.50% of the stock is currently owned by insiders.
Institutional Trading of Selective Insurance Group
A number of hedge funds and other institutional investors have recently modified their holdings of SIGI. SG Americas Securities LLC raised its stake in shares of Selective Insurance Group by 221.3% in the 1st quarter. SG Americas Securities LLC now owns 7,113 shares of the insurance provider's stock worth $651,000 after buying an additional 4,899 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Selective Insurance Group by 11.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,317 shares of the insurance provider's stock worth $761,000 after acquiring an additional 861 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Selective Insurance Group by 9.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,217 shares of the insurance provider's stock worth $844,000 after acquiring an additional 832 shares in the last quarter. State of Alaska Department of Revenue raised its position in Selective Insurance Group by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,117 shares of the insurance provider's stock worth $651,000 after acquiring an additional 185 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Selective Insurance Group by 543.8% in the first quarter. Teacher Retirement System of Texas now owns 71,052 shares of the insurance provider's stock worth $6,504,000 after acquiring an additional 60,015 shares in the last quarter. Institutional investors own 82.88% of the company's stock.
Selective Insurance Group Trading Down 1.7%
Selective Insurance Group stock opened at $82.86 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.33 and a current ratio of 0.33. The firm's 50-day moving average is $79.44 and its 200-day moving average is $84.10. Selective Insurance Group has a 1 year low of $71.75 and a 1 year high of $103.56. The company has a market cap of $5.04 billion, a P/E ratio of 13.56 and a beta of 0.39.
Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.55 by ($0.24). The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%.During the same period in the prior year, the business earned ($1.10) EPS. On average, equities analysts expect that Selective Insurance Group will post 7.62 earnings per share for the current year.
Selective Insurance Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.52 annualized dividend and a yield of 1.8%. Selective Insurance Group's payout ratio is presently 24.88%.
About Selective Insurance Group
(
Get Free Report)
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.
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