Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Consensus Rating of "Hold" by Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) have received an average rating of "Hold" from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $101.67.

Several research firms have issued reports on SIGI. BMO Capital Markets upgraded Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Bank of America raised 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. Finally, Royal Bank of Canada increased their price target on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd.

Selective Insurance Group Stock Performance

NASDAQ:SIGI traded up $0.83 during trading hours on Monday, reaching $98.65. The stock had a trading volume of 475,892 shares, compared to its average volume of 356,292. Selective Insurance Group has a 12-month low of $81.00 and a 12-month high of $109.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a 50 day simple moving average of $94.41 and a 200 day simple moving average of $92.78. The stock has a market cap of $6.00 billion, a P/E ratio of 26.37 and a beta of 0.57.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The business had revenue of $1.24 billion for 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% compared to the same quarter last year. During the same period last year, the company earned $1.51 earnings per share. On average, research analysts forecast that Selective Insurance Group will post 3.59 EPS for the current fiscal year.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Selective Insurance Group's previous quarterly dividend of $0.35. Selective Insurance Group's payout ratio is currently 40.97%.

Insider Activity

In other news, CAO Anthony D. Harnett sold 1,404 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares in the company, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Selective Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake 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 worth $30,000 after acquiring an additional 145 shares during the last quarter. Lindenwold Advisors INC boosted its stake in shares of Selective Insurance Group by 5.4% in the 3rd quarter. Lindenwold Advisors INC now owns 2,974 shares of the insurance provider's stock worth $277,000 after buying an additional 153 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Selective Insurance Group by 3.1% in the third quarter. Glenmede Trust Co. NA now owns 5,101 shares of the insurance provider's stock worth $476,000 after acquiring an additional 155 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Selective Insurance Group by 2.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,510 shares of the insurance provider's stock valued at $705,000 after acquiring an additional 205 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Selective Insurance Group by 5.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,086 shares of the insurance provider's stock valued at $446,000 after acquiring an additional 216 shares during the period. 82.88% of the stock is owned by hedge funds and other 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.