Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $98.71 Consensus PT from Brokerages

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned an average rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $98.71.

Several research firms have weighed in on SIGI. Morgan Stanley reduced their target price on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th.

Hedge Funds Weigh In On Selective Insurance Group

A number of large investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in shares of Selective Insurance Group in the fourth quarter worth about $25,000. Quarry LP bought a new position in shares of Selective Insurance Group in the fourth quarter worth approximately $38,000. UMB Bank n.a. raised its stake in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock worth $42,000 after buying an additional 402 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 buying an additional 190 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Trading Up 0.5 %

Shares of NASDAQ SIGI opened at $91.96 on Friday. Selective Insurance Group has a fifty-two week low of $78.13 and a fifty-two week high of $106.95. The firm has a market capitalization of $5.59 billion, a P/E ratio of 28.56 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. The company’s 50 day simple moving average is $86.50 and its 200 day simple moving average is $91.88.

Selective Insurance Group (NASDAQ:SIGI) last issued 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 return on equity of 7.33% and a net margin of 4.26%. On average, analysts predict that Selective Insurance Group will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. Selective Insurance Group’s payout ratio is 47.20%.

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.