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

Shares of Selective Insurance Group (NASDAQ:SIGI) have been given an average rating of “Hold” by the nine analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $60.75.

A number of analysts recently weighed in on SIGI shares. BidaskClub raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. ValuEngine cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Monday, October 29th. Finally, Credit Suisse Group upped their price target on shares of Selective Insurance Group from $54.00 to $61.00 and gave the stock a “sell” rating in a research report on Wednesday, October 31st.

In related news, Director Paul D. Bauer sold 2,500 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $64.40, for a total transaction of $161,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of SIGI. FMR LLC acquired a new position in Selective Insurance Group in the 3rd quarter worth $114,000. Paloma Partners Management Co acquired a new position in Selective Insurance Group in the 3rd quarter worth $213,000. McQueen Ball & Associates Inc. acquired a new position in Selective Insurance Group in the 3rd quarter worth $219,000. Private Advisor Group LLC acquired a new position in Selective Insurance Group in the 3rd quarter worth $276,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Selective Insurance Group in the 3rd quarter worth $305,000. Hedge funds and other institutional investors own 78.45% of the company’s stock.

Shares of Selective Insurance Group stock opened at $65.10 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.33 and a quick ratio of 0.33. Selective Insurance Group has a twelve month low of $53.55 and a twelve month high of $67.17. The firm has a market cap of $3.78 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. Selective Insurance Group had a net margin of 6.34% and a return on equity of 11.62%. The firm had revenue of $666.70 million during the quarter, compared to analysts’ expectations of $665.10 million. As a group, sell-side analysts expect that Selective Insurance Group will post 3.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, November 14th. Selective Insurance Group’s dividend payout ratio is 25.72%.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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Analyst Recommendations for Selective Insurance Group (NASDAQ:SIGI)

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