Brokerages Set Selective Insurance Group, Inc. (NASDAQ:SIGI) PT at $105.17

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have received an average recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $105.17.

Several equities analysts have recently issued reports on SIGI shares. Piper Sandler restated a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a report on Monday, April 1st. Royal Bank of Canada dropped their target price on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Oppenheimer reissued an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. Keefe, Bruyette & Woods dropped their price objective on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a report on Tuesday, February 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th.

Selective Insurance Group Price Performance

Shares of SIGI opened at $102.49 on Friday. The company has a 50 day moving average of $103.78 and a two-hundred day moving average of $102.82. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. Selective Insurance Group has a twelve month low of $91.99 and a twelve month high of $109.58. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. As a group, analysts predict that Selective Insurance Group will post 7.67 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, February 14th. Selective Insurance Group’s payout ratio is presently 24.01%.

Insiders Place Their Bets

In other news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the transaction, the chief operating officer now owns 10,511 shares in the company, valued at $1,112,904.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Selective Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Janiczek Wealth Management LLC boosted its stake in Selective Insurance Group by 186.5% during the third quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $26,000 after buying an additional 166 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Selective Insurance Group by 68.9% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 104 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Selective Insurance Group in the first quarter valued at about $27,000. Lazard Asset Management LLC acquired a new stake in Selective Insurance Group during the third quarter worth about $36,000. Finally, Point72 Hong Kong Ltd purchased a new position in Selective Insurance Group during the fourth quarter worth about $40,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

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.