Analysts Set Selective Insurance Group, Inc. (NASDAQ:SIGI) PT at $98.71

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $98.71.

A number of equities analysts have commented on SIGI shares. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley dropped their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $93.00 target price (down from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its holdings in shares of Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 116 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Selective Insurance Group by 0.7% during the fourth quarter. Arizona State Retirement System now owns 17,628 shares of the insurance provider’s stock worth $1,649,000 after purchasing an additional 123 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Selective Insurance Group by 1.5% during the fourth quarter. Pacer Advisors Inc. now owns 9,061 shares of the insurance provider’s stock worth $847,000 after purchasing an additional 137 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Selective Insurance Group by 3.8% during the fourth quarter. Caprock Group LLC now owns 3,950 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 145 shares during the last quarter. Finally, Lindenwold Advisors INC raised its holdings in shares of Selective Insurance Group by 5.4% during the third quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 0.8 %

SIGI stock opened at $83.68 on Wednesday. Selective Insurance Group has a twelve month low of $78.13 and a twelve month high of $109.58. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 25.99 and a beta of 0.54. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $87.60 and its two-hundred day simple moving average is $91.99.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. As a group, analysts anticipate that Selective Insurance Group will post 7.62 earnings per share for the current year.

Selective Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.82%. Selective Insurance Group’s dividend payout ratio is currently 47.20%.

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.