Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) have been given an average rating of “Hold” by the eight brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $102.14.
SIGI has been the topic of several recent research reports. Bank of America raised their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley began coverage on shares of Selective Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th.
Read Our Latest Report on Selective Insurance Group
Selective Insurance Group Stock Up 2.0 %
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. Selective Insurance Group’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. As a group, equities research analysts anticipate that Selective Insurance Group will post 3.61 EPS for the current fiscal year.
Selective Insurance Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.60%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 40.97%.
Insider Activity
In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. The trade was a 8.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Selective Insurance Group
Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Selective Insurance Group during the 3rd quarter worth about $27,000. Quest Partners LLC acquired a new position in Selective Insurance Group during the 2nd quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Selective Insurance Group during the 2nd quarter worth approximately $44,000. KBC Group NV boosted its holdings in Selective Insurance Group by 18.1% in the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider’s stock worth $172,000 after acquiring an additional 282 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Selective Insurance Group in the second quarter valued at approximately $188,000. 82.88% 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. 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.
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