Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Average Recommendation of "Hold" by Brokerages

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have earned a consensus rating of "Hold" from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $101.67.

SIGI has been the topic of several research analyst reports. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Bank of America lifted their price target on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a report on Tuesday, October 22nd. Piper Sandler dropped their price objective on Selective Insurance Group from $104.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, July 22nd. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $104.00 to $99.00 in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd.

Selective Insurance Group Price Performance

Shares of NASDAQ SIGI traded down $0.29 during mid-day trading on Thursday, reaching $91.54. The company had a trading volume of 143,792 shares, compared to its average volume of 352,492. The company has a 50-day moving average price of $91.99 and a two-hundred day moving average price of $93.28. The stock has a market cap of $5.56 billion, a PE ratio of 16.14, a P/E/G ratio of 1.53 and a beta of 0.56. Selective Insurance Group has a 1-year low of $81.00 and a 1-year high of $109.58. The company has a current ratio of 0.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.29). The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. Selective Insurance Group's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 EPS. On average, equities analysts anticipate that Selective Insurance Group will post 3.68 earnings per share for the current year.

Selective Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a yield of 1.66%. Selective Insurance Group's dividend payout ratio (DPR) is presently 26.86%.

Insider Buying and Selling

In other news, CAO Anthony D. Harnett sold 1,404 shares of Selective Insurance Group stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the transaction, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Selective Insurance Group

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider's stock valued at $30,000 after buying an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Selective Insurance Group by 2.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider's stock worth $705,000 after purchasing an additional 205 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Selective Insurance Group by 5.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider's stock worth $446,000 after buying an additional 216 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Selective Insurance Group by 2.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,451 shares of the insurance provider's stock valued at $1,262,000 after buying an additional 266 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Selective Insurance Group by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,166 shares of the insurance provider's stock valued at $1,415,000 after buying an additional 277 shares during the period. Institutional investors own 82.88% of the company's stock.

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.