Selective Insurance Group’s (SIGI) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Selective Insurance Group (NASDAQ:SIGI) in a report issued on Friday morning, MarketBeat reports. They currently have a $93.00 price target on the insurance provider’s stock, down from their previous price target of $116.00.

A number of other research analysts also recently commented on SIGI. Royal Bank of Canada boosted their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America upped their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. Morgan Stanley reduced their price objective on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Finally, BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Trading Down 0.5 %

Shares of SIGI stock opened at $85.24 on Friday. The firm has a market capitalization of $5.18 billion, a PE ratio of 26.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.34. Selective Insurance Group has a 1 year low of $80.84 and a 1 year high of $109.58. The stock has a fifty day moving average of $93.01 and a two-hundred day moving average of $92.65.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. As a group, research analysts expect that Selective Insurance Group will post 7.64 EPS for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.78%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.21%.

Hedge Funds Weigh In On Selective Insurance Group

Institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new position in Selective Insurance Group in the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group during the third quarter valued at about $27,000. UMB Bank n.a. grew its position in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after buying an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 402 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Selective Insurance Group by 64.4% in 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 during the period. Institutional investors own 82.88% of the company’s stock.

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.