Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Average Rating of “Hold” by Brokerages

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $107.20.

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $103.00 target price on shares of Selective Insurance Group in a report on Monday. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st.

Selective Insurance Group Trading Up 1.8 %

NASDAQ SIGI opened at $92.76 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $5.64 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.83 and a beta of 0.55. Selective Insurance Group has a 52-week low of $89.78 and a 52-week high of $109.58. The firm has a 50-day moving average price of $96.36 and a 200 day moving average price of $100.45.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts expect that Selective Insurance Group will post 6.8 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.74%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIGI. Vanguard Group Inc. increased its position in Selective Insurance Group by 5.9% during the first quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock worth $717,735,000 after buying an additional 367,987 shares in the last quarter. Wellington Management Group LLP raised its stake in Selective Insurance Group by 188.2% in the 4th quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock valued at $144,287,000 after purchasing an additional 947,147 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Selective Insurance Group by 14.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock valued at $118,420,000 after purchasing an additional 149,901 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Selective Insurance Group by 1.8% during the 4th quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock worth $97,791,000 after purchasing an additional 17,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Selective Insurance Group by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 811,919 shares of the insurance provider’s stock worth $80,770,000 after purchasing an additional 17,657 shares during the last quarter. 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.