Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $98.71 Consensus Target Price from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $98.71.

Several research firms have weighed in on SIGI. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Morgan Stanley lowered their price target on shares of 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. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th.

Institutional Investors Weigh In On Selective Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pullen Investment Management LLC raised its position in shares of Selective Insurance Group by 51.6% in the fourth quarter. Pullen Investment Management LLC now owns 12,736 shares of the insurance provider’s stock valued at $1,191,000 after buying an additional 4,334 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Selective Insurance Group by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 16,665 shares of the insurance provider’s stock valued at $1,559,000 after buying an additional 2,914 shares in the last quarter. US Asset Management LLC acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at approximately $213,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Selective Insurance Group by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,460 shares of the insurance provider’s stock valued at $18,934,000 after buying an additional 22,712 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in shares of Selective Insurance Group by 14.3% in the fourth quarter. Voloridge Investment Management LLC now owns 272,243 shares of the insurance provider’s stock valued at $25,460,000 after buying an additional 34,100 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 0.9 %

Shares of SIGI stock opened at $85.10 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50-day moving average is $87.95 and its 200-day moving average is $92.00. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 26.43 and a beta of 0.54. Selective Insurance Group has a 52-week low of $78.13 and a 52-week high of $109.58.

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 net margin of 4.26% and a return on equity of 7.33%. Sell-side analysts predict that Selective Insurance Group will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.79%. Selective Insurance Group’s payout ratio is 47.20%.

Selective Insurance Group Company Profile

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.