Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $105.17 Consensus PT from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have received a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $105.17.

Several research firms recently weighed in on SIGI. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday. Royal Bank of Canada lowered their target price on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a research note on Friday, April 5th. Finally, Piper Sandler reissued a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research note on Monday, April 1st.

Selective Insurance Group Stock Up 1.0 %

SIGI opened at $101.42 on Friday. The firm’s 50-day simple moving average is $103.73 and its 200-day simple moving average is $102.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group has a twelve month low of $91.99 and a twelve month high of $109.58. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.75 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.02. Selective Insurance Group had a net margin of 8.57% and a return on equity of 14.43%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Equities research analysts anticipate that Selective Insurance Group will post 7.67 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 24.01%.

Insider Buying and Selling

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Selective Insurance Group

A number of institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in Selective Insurance Group during the first quarter worth about $27,000. Janiczek Wealth Management LLC lifted its holdings in Selective Insurance Group by 186.5% during the third quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 166 shares in the last quarter. Blue Trust Inc. lifted its holdings in Selective Insurance Group by 68.9% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lazard Asset Management LLC bought a new position in Selective Insurance Group during the third quarter worth about $36,000. Finally, Point72 Hong Kong Ltd bought a new position in Selective Insurance Group during the fourth quarter worth about $40,000. 82.88% of the stock is owned by institutional investors and hedge funds.

About Selective Insurance Group

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.