Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $98.67 Consensus Target Price from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $98.50.

SIGI has been the topic of several analyst reports. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $104.00 to $99.00 in a report on Monday, July 22nd. BMO Capital Markets upped their target price on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Piper Sandler lowered their price objective on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada decreased their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research note on Monday, July 22nd.

Selective Insurance Group Trading Down 0.5 %

Shares of SIGI stock opened at $92.47 on Friday. The stock has a market capitalization of $5.62 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.55 and a beta of 0.56. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $89.79 and its 200 day moving average is $94.38. Selective Insurance Group has a 12-month low of $81.00 and a 12-month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Thursday, July 18th. The insurance provider reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.49 by ($2.59). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. During the same quarter last year, the company earned $0.99 earnings per share. Research analysts expect that Selective Insurance Group will post 3.84 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, August 15th. Selective Insurance Group’s payout ratio is currently 24.73%.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni purchased 2,400 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average cost of $83.56 per share, with a total value of $200,544.00. Following the purchase, the chief executive officer now owns 136,397 shares of the company’s stock, valued at approximately $11,397,333.32. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Terrence W. Cavanaugh purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $85.85 per share, with a total value of $171,700.00. Following the completion of the purchase, the director now owns 20,651 shares of the company’s stock, valued at approximately $1,772,888.35. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John J. Marchioni purchased 2,400 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was purchased at an average price of $83.56 per share, with a total value of $200,544.00. Following the acquisition, the chief executive officer now directly owns 136,397 shares of the company’s stock, valued at $11,397,333.32. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Selective Insurance Group during the first quarter valued at approximately $27,000. Quest Partners LLC purchased a new stake in Selective Insurance Group during the second quarter worth $28,000. GAMMA Investing LLC boosted its position in Selective Insurance Group by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Selective Insurance Group in the 1st quarter valued at $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Selective Insurance Group in the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

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.