BidaskClub downgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a buy rating to a hold rating in a report released on Saturday.
Several other research analysts have also recently issued reports on SIGI. ValuEngine upgraded Selective Insurance Group from a hold rating to a buy rating in a research report on Monday, October 29th. Zacks Investment Research cut Selective Insurance Group from a hold rating to a sell rating in a research report on Friday, October 26th. Boenning Scattergood reiterated a hold rating on shares of Selective Insurance Group in a research report on Thursday, August 2nd. Finally, Credit Suisse Group increased their price objective on Selective Insurance Group from $54.00 to $61.00 and gave the stock a sell rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $61.80.
NASDAQ:SIGI opened at $63.63 on Friday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.15 and a beta of 1.09. 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 1 year low of $53.55 and a 1 year high of $67.17.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The firm had revenue of $666.70 million during the quarter, compared to analysts’ expectations of $665.10 million. Selective Insurance Group had a return on equity of 11.62% and a net margin of 6.34%. As a group, sell-side analysts anticipate that Selective Insurance Group will post 3.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a $0.20 dividend. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.26%. Selective Insurance Group’s dividend payout ratio is 23.15%.
In other Selective Insurance Group news, COO John J. Marchioni sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $60.78, for a total value of $1,823,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Morrissey sold 1,575 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $63.72, for a total value of $100,359.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. First National Bank of Omaha grew its holdings in Selective Insurance Group by 2.3% in the third quarter. First National Bank of Omaha now owns 46,700 shares of the insurance provider’s stock valued at $2,965,000 after purchasing an additional 1,040 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Selective Insurance Group in the third quarter valued at $789,000. Private Advisor Group LLC acquired a new stake in Selective Insurance Group in the third quarter valued at $276,000. State Board of Administration of Florida Retirement System grew its holdings in Selective Insurance Group by 8.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 49,331 shares of the insurance provider’s stock valued at $3,133,000 after purchasing an additional 4,051 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in Selective Insurance Group by 5.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 428,354 shares of the insurance provider’s stock valued at $27,200,000 after purchasing an additional 22,000 shares during the last quarter. 78.33% of the stock is currently owned by institutional investors.
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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