Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $98.71 Consensus Price Target from Analysts

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

Several equities research analysts have recently weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley lowered their price objective on 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 set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th.

Selective Insurance Group Price Performance

Shares of SIGI stock traded down $0.80 during trading hours on Wednesday, hitting $85.10. The company had a trading volume of 343,712 shares, compared to its average volume of 356,052. Selective Insurance Group has a 12 month low of $78.13 and a 12 month high of $109.58. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 26.43 and a beta of 0.54. The firm's fifty day moving average is $87.95 and its 200 day moving average is $92.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34.

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Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. On average, sell-side analysts predict that Selective Insurance Group will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.79%. Selective Insurance Group's dividend payout ratio (DPR) is presently 47.20%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SIGI. Private Advisor Group LLC boosted its position in Selective Insurance Group by 8.4% in the 3rd quarter. Private Advisor Group LLC now owns 4,860 shares of the insurance provider's stock valued at $453,000 after buying an additional 377 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Selective Insurance Group by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,022 shares of the insurance provider's stock valued at $655,000 after buying an additional 475 shares during the last quarter. US Bancorp DE boosted its position in Selective Insurance Group by 15.0% in the 3rd quarter. US Bancorp DE now owns 22,150 shares of the insurance provider's stock valued at $2,067,000 after buying an additional 2,896 shares during the last quarter. New York State Common Retirement Fund boosted its position in Selective Insurance Group by 10.2% in the 3rd quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider's stock valued at $16,770,000 after buying an additional 16,689 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Selective Insurance Group by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 34,759 shares of the insurance provider's stock valued at $3,313,000 after buying an additional 9,931 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

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.