Selective Insurance (SIGI) Receives Hold Rating from Sandler O’Neill

Sandler O’Neill reissued their hold rating on shares of Selective Insurance (NASDAQ:SIGI) in a research report sent to investors on Friday morning. Sandler O’Neill currently has a $61.00 price target on the insurance provider’s stock.

A number of other equities research analysts have also issued reports on SIGI. Zacks Investment Research lowered shares of Selective Insurance from a buy rating to a hold rating in a research note on Saturday, March 31st. BidaskClub raised shares of Selective Insurance from a buy rating to a strong-buy rating in a research note on Friday, March 30th. ValuEngine raised shares of Selective Insurance from a hold rating to a buy rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods set a $62.00 target price on shares of Selective Insurance and gave the company a hold rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada reissued a hold rating and set a $59.00 target price on shares of Selective Insurance in a research note on Friday, December 8th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $62.50.

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Shares of NASDAQ:SIGI traded down $1.45 during trading on Friday, reaching $59.45. 155,548 shares of the company traded hands, compared to its average volume of 172,140. The firm has a market capitalization of $3,577.56, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25. Selective Insurance has a 1-year low of $44.65 and a 1-year high of $62.40. 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 (NASDAQ:SIGI) last issued its earnings results on Thursday, February 1st. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $633.70 million during the quarter, compared to analyst estimates of $632.30 million. Selective Insurance had a net margin of 6.83% and a return on equity of 11.11%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. equities research analysts expect that Selective Insurance will post 3.88 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new stake in shares of Selective Insurance in the 4th quarter valued at $277,000. William Blair Investment Management LLC lifted its stake in shares of Selective Insurance by 0.5% in the 4th quarter. William Blair Investment Management LLC now owns 592,399 shares of the insurance provider’s stock valued at $34,774,000 after purchasing an additional 2,815 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Selective Insurance in the 4th quarter valued at $1,573,000. Macquarie Group Ltd. lifted its stake in shares of Selective Insurance by 1.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,747,235 shares of the insurance provider’s stock valued at $161,263,000 after purchasing an additional 27,419 shares during the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of Selective Insurance in the 4th quarter valued at $203,000. 78.69% of the stock is owned by institutional investors and hedge funds.

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About Selective Insurance

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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