Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $104.57 Consensus Target Price from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $104.57.

SIGI has been the topic of a number of research analyst reports. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Bank of America boosted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Morgan Stanley began coverage on Selective Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a report on Friday, January 10th.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $94.24 on Tuesday. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $5.73 billion, a P/E ratio of 25.40 and a beta of 0.62. The stock’s fifty day moving average is $96.09 and its two-hundred day moving average is $93.00.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. Selective Insurance Group’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts expect that Selective Insurance Group will post 3.61 EPS for the current year.

Insider Buying and Selling

In related news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at $1,476,759.06. The trade was a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. boosted its position in shares of Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares in the last quarter. Lindenwold Advisors INC boosted its position in shares of Selective Insurance Group by 5.4% during the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 153 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Selective Insurance Group by 3.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider’s stock worth $476,000 after acquiring an additional 155 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 190 shares in the last quarter. Finally, Heritage Family Offices LLP boosted its position in shares of Selective Insurance Group by 6.3% during the 4th quarter. Heritage Family Offices LLP now owns 3,255 shares of the insurance provider’s stock worth $304,000 after acquiring an additional 193 shares in the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.

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.