BidaskClub upgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a hold rating to a buy rating in a research report sent to investors on Saturday, October 27th.
Several other research firms also recently commented on SIGI. ValuEngine raised shares of Selective Insurance Group from a hold rating to a buy rating in a research report on Friday, August 3rd. Boenning Scattergood restated a hold rating on shares of Selective Insurance Group in a research note on Thursday, August 2nd. Credit Suisse Group began coverage on shares of Selective Insurance Group in a research note on Tuesday, August 7th. They issued an underperform rating and a $54.00 price objective for the company. Finally, Zacks Investment Research cut shares of Selective Insurance Group from a hold rating to a sell rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Selective Insurance Group has a consensus rating of Hold and a consensus target price of $61.80.
SIGI stock traded down $0.24 during trading hours on Friday, hitting $63.33. The company’s stock had a trading volume of 71,493 shares, compared to its average volume of 217,628. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.16 and a beta of 1.09. Selective Insurance Group has a 12 month low of $53.55 and a 12 month high of $67.17.
Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Thursday, October 25th. The insurance provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The company had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million. Selective Insurance Group had a net margin of 6.34% and a return on equity of 11.62%. On average, research analysts expect that Selective Insurance Group will post 3.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, November 14th. Selective Insurance Group’s payout ratio is presently 25.72%.
In other news, Director Paul D. Bauer sold 2,500 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $64.40, for a total value of $161,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in SIGI. Xact Kapitalforvaltning AB raised its stake in Selective Insurance Group by 55.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,316 shares of the insurance provider’s stock valued at $444,000 after purchasing an additional 2,600 shares during the last quarter. Principal Financial Group Inc. raised its stake in Selective Insurance Group by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 482,508 shares of the insurance provider’s stock valued at $29,288,000 after purchasing an additional 14,483 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in Selective Insurance Group during the 2nd quarter valued at $235,000. Krueger & Catalano Capital Partners LLC acquired a new position in Selective Insurance Group during the 2nd quarter valued at $1,842,000. Finally, Bank of Montreal Can acquired a new position in Selective Insurance Group during the 2nd quarter valued at $4,471,000. Hedge funds and other institutional investors own 77.86% of the company’s stock.
About Selective Insurance Group
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.
Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.