Selective Insurance Group (SIGI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Selective Insurance Group (NASDAQ:SIGI) have been given an average recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $60.50.

Several equities analysts recently weighed in on SIGI shares. Royal Bank of Canada reiterated a “hold” rating and set a $59.00 price objective on shares of Selective Insurance Group in a research note on Friday, December 8th. BidaskClub lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Wednesday, December 13th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Keefe, Bruyette & Woods set a $62.00 price objective on Selective Insurance Group and gave the stock a “hold” rating in a research note on Monday, February 5th.

Large investors have recently bought and sold shares of the business. McQueen Ball & Associates Inc. purchased a new stake in Selective Insurance Group during the 4th quarter worth approximately $203,000. Zeke Capital Advisors LLC purchased a new stake in Selective Insurance Group during the 4th quarter worth approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Selective Insurance Group by 46.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,697 shares of the insurance provider’s stock worth $217,000 after buying an additional 1,171 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Selective Insurance Group during the 4th quarter worth approximately $233,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Selective Insurance Group during the 4th quarter worth approximately $277,000. Institutional investors own 78.69% of the company’s stock.

Shares of Selective Insurance Group stock opened at $60.70 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a twelve month low of $44.65 and a twelve month high of $62.40. The stock has a market capitalization of $3,565.82, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, February 1st. The insurance provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.06. Selective Insurance Group had a return on equity of 11.11% and a net margin of 6.83%. The firm had revenue of $633.70 million during the quarter, compared to analyst estimates of $632.30 million. During the same quarter in the previous year, the business earned $0.75 EPS. Selective Insurance Group’s revenue for the quarter was up 8.8% compared to the same quarter last year. analysts forecast that Selective Insurance Group will post 3.88 earnings per share for the current fiscal year.

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Selective Insurance Group Company Profile

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.

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