Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been assigned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $107.20.

Several brokerages recently commented on SIGI. Royal Bank of Canada reiterated a “sector perform” rating and set a $103.00 price target on shares of Selective Insurance Group in a research note on Monday, June 24th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. Finally, Piper Sandler reissued a “neutral” rating and issued a $104.00 price objective on shares of Selective Insurance Group in a report on Monday, April 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Michigan Retirement System grew its holdings in Selective Insurance Group by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,581 shares of the insurance provider’s stock worth $1,451,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. lifted its stake in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Selective Insurance Group by 2.0% in the fourth quarter. Apollon Wealth Management LLC now owns 5,628 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 109 shares during the period. Teacher Retirement System of Texas boosted its holdings in Selective Insurance Group by 0.5% during the fourth quarter. Teacher Retirement System of Texas now owns 27,092 shares of the insurance provider’s stock worth $2,695,000 after buying an additional 123 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Selective Insurance Group by 0.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 32,436 shares of the insurance provider’s stock worth $3,227,000 after buying an additional 143 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Trading Down 1.8 %

NASDAQ:SIGI opened at $91.81 on Friday. Selective Insurance Group has a 1 year low of $89.78 and a 1 year high of $109.58. The stock has a market cap of $5.58 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.85 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day simple moving average of $95.40 and a 200-day simple moving average of $100.15.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts anticipate that Selective Insurance Group will post 6.8 earnings per share for the current fiscal year.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a $0.35 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

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.