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

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) has earned an average recommendation of "Hold" from the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $98.71.

Several brokerages recently issued reports on SIGI. Morgan Stanley cut their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $93.00 price objective (down from $116.00) on shares of Selective Insurance Group in a report on Friday. Bank of America upped their target price on 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 raised shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Finally, JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Selective Insurance Group by 171.6% during the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock valued at $10,711,000 after buying an additional 72,530 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Selective Insurance Group by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock worth $37,801,000 after acquiring an additional 7,563 shares during the period. Quest Partners LLC raised its position in shares of Selective Insurance Group by 2,486.8% in the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider's stock worth $712,000 after acquiring an additional 7,336 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock valued at $603,000 after purchasing an additional 1,747 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Selective Insurance Group by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider's stock valued at $80,956,000 after purchasing an additional 21,374 shares during the period. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock traded down $0.24 during trading on Friday, hitting $84.11. The stock had a trading volume of 448,177 shares, compared to its average volume of 421,466. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group has a 12 month low of $80.84 and a 12 month high of $109.58. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 26.12 and a beta of 0.61. The business's 50-day moving average is $92.38 and its 200 day moving average is $92.57.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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, sell-side analysts anticipate that Selective Insurance Group will post 7.64 earnings per share for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, February 14th. Selective Insurance Group's payout ratio is 47.21%.

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.