Zacks Investment Research downgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “Selective Insurance Group, Inc. is a regional insurance holding company which, through its insurance subsidiaries, offers a broad range of property and casualty insurance products. Selective’s commercial insurance products are directed to small- to medium-sized service-oriented businesses, governmental entities and selected classes of light industry. They also offer personal insurance products to individuals and families. “
Other analysts have also issued research reports about the company. ValuEngine upgraded Selective Insurance Group from a hold rating to a buy rating in a report on Friday, February 2nd. BidaskClub raised Selective Insurance Group from a hold rating to a buy rating in a research report on Saturday, March 10th. Keefe, Bruyette & Woods set a $62.00 target price on Selective Insurance Group and gave the stock a hold rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $59.00 target price on shares of Selective Insurance Group in a research report on Friday, December 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $62.67.
Shares of Selective Insurance Group (SIGI) traded up $0.15 during trading on Wednesday, hitting $60.75. The stock had a trading volume of 2,965 shares, compared to its average volume of 161,518. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $3,570.04, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. Selective Insurance Group has a twelve month low of $44.65 and a twelve month high of $62.40.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data 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. The business had revenue of $633.70 million during the quarter, compared to analyst estimates of $632.30 million. Selective Insurance Group had a return on equity of 11.11% and a net margin of 6.83%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. equities research analysts expect that Selective Insurance Group will post 3.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Wednesday, February 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 25.26%.
Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Selective Insurance Group during the third quarter worth $721,000. Aurora Investment Counsel acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth $2,159,000. Stifel Financial Corp raised its position in shares of Selective Insurance Group by 5.9% during the third quarter. Stifel Financial Corp now owns 261,998 shares of the insurance provider’s stock worth $14,111,000 after purchasing an additional 14,593 shares during the period. Wells Fargo & Company MN raised its position in shares of Selective Insurance Group by 14.0% during the third quarter. Wells Fargo & Company MN now owns 151,358 shares of the insurance provider’s stock worth $8,150,000 after purchasing an additional 18,601 shares during the period. Finally, Ramsey Quantitative Systems acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth $319,000. 78.71% of the stock is currently owned by institutional investors.
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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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