Selective Insurance Group (NASDAQ:SIGI) Stock Rating Lowered by BidaskClub

Selective Insurance Group (NASDAQ:SIGI) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday, BidAskClub reports.

Several other research firms have also issued reports on SIGI. ValuEngine upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Buckingham Research raised their price target on Selective Insurance Group from $73.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $74.00.

SIGI traded down $0.60 during mid-day trading on Friday, reaching $68.06. The stock had a trading volume of 11,998 shares, compared to its average volume of 266,599. The stock has a market capitalization of $4.09 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.19 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The firm’s fifty day simple moving average is $73.22 and its two-hundred day simple moving average is $74.82. Selective Insurance Group has a 52 week low of $56.22 and a 52 week high of $81.35.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.14). Selective Insurance Group had a net margin of 8.53% and a return on equity of 12.83%. The firm had revenue of $710.40 million during the quarter, compared to the consensus estimate of $718.14 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts expect that Selective Insurance Group will post 4.18 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Selective Insurance Group during the 3rd quarter worth $56,000. Royal Bank of Canada raised its stake in Selective Insurance Group by 25.3% during the 2nd quarter. Royal Bank of Canada now owns 2,394 shares of the insurance provider’s stock worth $179,000 after buying an additional 484 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Selective Insurance Group during the 2nd quarter worth $184,000. Tower Research Capital LLC TRC acquired a new stake in Selective Insurance Group during the 3rd quarter worth $188,000. Finally, Convergence Investment Partners LLC acquired a new stake in Selective Insurance Group during the 3rd quarter worth $189,000. Institutional investors and hedge funds own 78.60% 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 through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus 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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