Selective Insurance Group (NASDAQ:SIGI) Sets New 52-Week Low - Time to Sell?

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $80.84 and last traded at $82.14, with a volume of 1860444 shares. The stock had previously closed at $94.02.

Analyst Ratings Changes

A number of research firms have weighed in on SIGI. JMP Securities restated a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday. BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Bank of America increased their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their target price on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada raised 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $102.00.

Selective Insurance Group Stock Performance

The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 25.71 and a beta of 0.62. The company has a 50-day moving average of $94.65 and a 200-day moving average of $92.77.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing analysts' consensus estimates 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, equities research analysts forecast that Selective Insurance Group, Inc. will post 7.77 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, February 14th. Selective Insurance Group's dividend payout ratio is currently 47.20%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in Selective Insurance Group in the 4th quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group during the third quarter valued at $27,000. UMB Bank n.a. lifted its stake in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock worth $42,000 after acquiring an additional 402 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Selective Insurance Group in the second quarter worth about $44,000. 82.88% of the stock is owned by institutional investors.

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.