Selective Insurance Group (SIGI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Selective Insurance Group (NASDAQ:SIGI) have received an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $56.25.

SIGI has been the subject of several research analyst reports. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $55.00 target price on shares of Selective Insurance Group in a research note on Friday, October 27th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research note on Friday, October 27th.

Selective Insurance Group (NASDAQ SIGI) opened at $57.70 on Friday. The firm has a market cap of $3,377.94, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.54 and a beta of 1.45. Selective Insurance Group has a 52 week low of $38.50 and a 52 week high of $62.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.10. The company had revenue of $621.30 million during the quarter, compared to analysts’ expectations of $625.80 million. Selective Insurance Group had a net margin of 7.36% and a return on equity of 11.00%. Selective Insurance Group’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. equities analysts predict that Selective Insurance Group will post 3.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were paid a $0.18 dividend. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, November 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 23.92%.

In other Selective Insurance Group news, Director John Burville sold 1,000 shares of Selective Insurance Group stock in a transaction on Friday, November 10th. The shares were sold at an average price of $58.76, for a total value of $58,760.00. Following the completion of the transaction, the director now directly owns 82,898 shares of the company’s stock, valued at approximately $4,871,086.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Bauer sold 28,840 shares of Selective Insurance Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $61.14, for a total transaction of $1,763,277.60. The disclosure for this sale can be found here. Insiders sold a total of 45,375 shares of company stock valued at $2,740,784 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Several large investors have recently modified their holdings of the business. California Public Employees Retirement System grew its stake in shares of Selective Insurance Group by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 114,194 shares of the insurance provider’s stock worth $6,149,000 after buying an additional 4,994 shares in the last quarter. Narus Financial Partners LLC grew its stake in shares of Selective Insurance Group by 34.3% in the 3rd quarter. Narus Financial Partners LLC now owns 7,557 shares of the insurance provider’s stock worth $407,000 after buying an additional 1,930 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Selective Insurance Group by 5.9% in the 3rd quarter. Stifel Financial Corp now owns 261,998 shares of the insurance provider’s stock worth $14,111,000 after acquiring an additional 14,593 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Selective Insurance Group by 5.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 339,981 shares of the insurance provider’s stock worth $18,308,000 after acquiring an additional 18,618 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Selective Insurance Group by 14.0% in the 3rd quarter. Wells Fargo & Company MN now owns 151,358 shares of the insurance provider’s stock worth $8,150,000 after acquiring an additional 18,601 shares during the last quarter. 77.76% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Selective Insurance Group (SIGI) Receives Average Recommendation of “Hold” from Brokerages” was originally posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.thelincolnianonline.com/2018/01/13/selective-insurance-group-sigi-receives-average-recommendation-of-hold-from-brokerages-updated-updated.html.

About Selective Insurance Group

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply