Brokerages Set Selective Insurance Group, Inc. (NASDAQ:SIGI) Target Price at $102.14

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have been given an average rating of "Hold" by the eight brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $102.14.

A number of equities analysts have recently issued reports on SIGI shares. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their price target for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. Morgan Stanley initiated coverage on Selective Insurance Group in a research note on Thursday, December 5th. They set an "equal weight" rating and a $105.00 price target on the stock. Finally, Bank of America raised their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an "underperform" rating in a research note on Tuesday, October 22nd.

Insider Buying and Selling

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of 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 8.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Selective Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Selective Insurance Group during the third quarter worth about $27,000. Quest Partners LLC purchased a new position in shares of Selective Insurance Group during the 2nd quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Selective Insurance Group in the second quarter worth approximately $44,000. KBC Group NV boosted its position in shares of Selective Insurance Group by 18.1% in the third quarter. KBC Group NV now owns 1,840 shares of the insurance provider's stock worth $172,000 after acquiring an additional 282 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Selective Insurance Group in the second quarter valued at approximately $188,000. Hedge funds and other institutional investors own 82.88% of the company's stock.

Selective Insurance Group Stock Performance

NASDAQ SIGI traded down $0.26 on Friday, hitting $93.34. 1,133,617 shares of the company's stock were exchanged, compared to its average volume of 354,680. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 25.16 and a beta of 0.60. The firm's 50-day moving average price is $96.75 and its two-hundred day moving average price is $93.01. Selective Insurance Group has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company earned $1.51 EPS. The company's revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that Selective Insurance Group will post 3.61 EPS for the current year.

Selective Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This is an increase from Selective Insurance Group's previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, November 15th. Selective Insurance Group's dividend payout ratio is currently 40.97%.

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.