Selective Insurance Group (NASDAQ:SIGI) Reaches New 12-Month Low – Here’s Why

Selective Insurance Group, Inc. (NASDAQ:SIGI) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $80.84 and last traded at $82.14, with a volume of 1860444 shares trading hands. The stock had previously closed at $94.02.

Analyst Ratings Changes

Several research firms have weighed in on SIGI. Royal Bank of Canada upped their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on shares of Selective Insurance Group in a research note on Thursday, December 5th. They set an “equal weight” rating and a $105.00 target price for the company. Bank of America boosted their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 22nd. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $104.57.

Selective Insurance Group Price Performance

The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $94.92 and its 200-day moving average price is $92.98. The stock has a market capitalization of $4.99 billion, a PE ratio of 22.14 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. On average, equities analysts forecast that Selective Insurance Group, Inc. will post 3.63 EPS for the current fiscal year.

Institutional Trading of Selective Insurance Group

A number of institutional investors have recently bought and sold shares of SIGI. Bank of Montreal Can raised its stake in shares of Selective Insurance Group by 6.5% in the second quarter. Bank of Montreal Can now owns 8,526 shares of the insurance provider’s stock valued at $838,000 after acquiring an additional 524 shares during the period. AQR Capital Management LLC raised its position in Selective Insurance Group by 18.7% in the 2nd quarter. AQR Capital Management LLC now owns 94,386 shares of the insurance provider’s stock worth $8,846,000 after purchasing an additional 14,837 shares during the period. Millennium Management LLC lifted its stake in Selective Insurance Group by 233.6% in the second quarter. Millennium Management LLC now owns 106,239 shares of the insurance provider’s stock worth $9,968,000 after purchasing an additional 74,390 shares during the last quarter. Algert Global LLC boosted its position in shares of Selective Insurance Group by 93.6% during the second quarter. Algert Global LLC now owns 14,426 shares of the insurance provider’s stock valued at $1,354,000 after buying an additional 6,976 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Selective Insurance Group during the second quarter valued at approximately $2,209,000. 82.88% of the stock is currently owned by institutional investors.

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.