Shares of Selective Insurance Group (NASDAQ:SIGI) have received an average rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $62.67.
SIGI has been the topic of a number of research analyst reports. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Selective Insurance Group from a “sell” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Wednesday, December 13th. Keefe, Bruyette & Woods set a $62.00 target price on Selective Insurance Group and gave the stock a “hold” rating in a research note on Monday, February 5th. BidaskClub downgraded Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $59.00 target price on shares of Selective Insurance Group in a research note on Friday, December 8th.
Shares of Selective Insurance Group (NASDAQ SIGI) traded up $0.50 on Friday, reaching $57.60. The company’s stock had a trading volume of 202,900 shares, compared to its average volume of 156,027. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.29 and a quick ratio of 0.32. The company has a market cap of $3,340.35, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.83 and a beta of 1.37. Selective Insurance Group has a 1 year low of $42.80 and a 1 year high of $62.40.
Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Thursday, February 1st. The insurance provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $632.30 million. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. analysts expect that Selective Insurance Group will post 3.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.72 annualized dividend and a yield of 1.25%. Selective Insurance Group’s payout ratio is 25.26%.
In related news, Director John Burville sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $59.00, for a total value of $354,000.00. Following the transaction, the director now owns 59,898 shares in the company, valued at $3,533,982. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul D. Bauer sold 28,840 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $61.14, for a total value of $1,763,277.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,775 shares of company stock worth $2,529,504. 3.00% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its stake in Selective Insurance Group by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after purchasing an additional 23 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Selective Insurance Group by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 44,119 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 276 shares in the last quarter. M&T Bank Corp lifted its position in shares of Selective Insurance Group by 16.7% during the second quarter. M&T Bank Corp now owns 5,066 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 726 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Selective Insurance Group by 12.9% during the fourth quarter. GW&K Investment Management LLC now owns 8,215 shares of the insurance provider’s stock worth $482,000 after acquiring an additional 940 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Selective Insurance Group by 0.9% during the second quarter. California Public Employees Retirement System now owns 109,200 shares of the insurance provider’s stock worth $5,465,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.
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About Selective Insurance Group
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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