Selective Insurance Group (NASDAQ:SIGI) Issues Quarterly Earnings Results

Selective Insurance Group (NASDAQ:SIGI) announced its quarterly earnings results on Wednesday. The insurance provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.37), Zacks reports. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.39%.

Selective Insurance Group Stock Performance

Shares of SIGI stock traded up $1.38 during mid-day trading on Friday, hitting $83.52. 351,199 shares of the stock were exchanged, compared to its average volume of 356,428. Selective Insurance Group has a 12-month low of $80.84 and a 12-month high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 25.95 and a beta of 0.62. The stock’s fifty day simple moving average is $94.92 and its two-hundred day simple moving average is $92.98.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SIGI. Keefe, Bruyette & Woods increased their target price on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Royal Bank of Canada lifted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley began coverage on Selective Insurance Group in a research report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price target for the company. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.57.

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.