Selective Insurance Group (NASDAQ:SIGI) Sets New 12-Month High – Here’s What Happened

Selective Insurance Group, Inc. (NASDAQ:SIGI) reached a new 52-week high during trading on Wednesday . The company traded as high as $91.85 and last traded at $91.1780, with a volume of 54462 shares traded. The stock had previously closed at $90.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SIGI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $84.00 to $97.00 in a report on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a research note on Monday, March 23rd. Keefe, Bruyette & Woods lifted their target price on Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Oppenheimer boosted their price target on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Selective Insurance Group currently has an average rating of “Hold” and a consensus price target of $91.67.

Selective Insurance Group Trading Up 0.6%

The firm has a market cap of $5.43 billion, a P/E ratio of 12.46 and a beta of 0.32. The business’s 50 day moving average is $84.00 and its 200-day moving average is $82.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.12). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.Selective Insurance Group’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 earnings per share. As a group, analysts forecast that Selective Insurance Group, Inc. will post 7.81 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, May 15th. Selective Insurance Group’s dividend payout ratio (DPR) is 23.53%.

Institutional Trading of Selective Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of SIGI. Eurizon Capital SGR S.p.A. bought a new position in Selective Insurance Group during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Selective Insurance Group during the 4th quarter valued at approximately $25,000. True Wealth Design LLC lifted its stake in Selective Insurance Group by 45.9% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Amundi lifted its stake in Selective Insurance Group by 398.7% during the first quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 311 shares during the last quarter. Finally, Rothschild Investment LLC boosted its holdings in Selective Insurance Group by 680.0% in the third quarter. Rothschild Investment LLC now owns 546 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 476 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.