Analysts Set Expectations for Selective Insurance Group’s Q1 2020 Earnings (SIGI)
Selective Insurance Group (NASDAQ:SIGI) – Analysts at Boenning Scattergood issued their Q1 2020 EPS estimates for Selective Insurance Group in a note issued to investors on Tuesday, January 22nd. Boenning Scattergood analyst R. Farnam anticipates that the insurance provider will post earnings per share of $0.88 for the quarter. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s Q2 2020 earnings at $1.08 EPS, Q3 2020 earnings at $1.06 EPS and Q4 2020 earnings at $1.07 EPS.
Several other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Buckingham Research assumed coverage on shares of Selective Insurance Group in a report on Friday, December 14th. They set a “neutral” rating and a $62.00 price target for the company. JMP Securities assumed coverage on shares of Selective Insurance Group in a report on Friday, November 16th. They set a “market perform” rating for the company. Zacks Investment Research reissued a “hold” rating on shares of Selective Insurance Group in a report on Thursday, November 15th. Finally, Credit Suisse Group boosted their price target on shares of Selective Insurance Group from $54.00 to $61.00 and gave the company a “sell” rating in a report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.40.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. Selective Insurance Group had a net margin of 6.34% and a return on equity of 11.62%. The firm had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million.
Several hedge funds and other institutional investors have recently modified their holdings of SIGI. Prudential Financial Inc. raised its position in Selective Insurance Group by 28.8% in the third quarter. Prudential Financial Inc. now owns 138,637 shares of the insurance provider’s stock worth $8,803,000 after acquiring an additional 30,976 shares in the last quarter. Vanguard Group Inc raised its position in Selective Insurance Group by 1.8% in the third quarter. Vanguard Group Inc now owns 5,848,362 shares of the insurance provider’s stock worth $371,372,000 after acquiring an additional 105,870 shares in the last quarter. McQueen Ball & Associates Inc. bought a new stake in Selective Insurance Group in the third quarter worth about $219,000. Northern Trust Corp raised its position in Selective Insurance Group by 5.1% in the second quarter. Northern Trust Corp now owns 1,414,324 shares of the insurance provider’s stock worth $77,788,000 after acquiring an additional 68,680 shares in the last quarter. Finally, Man Group plc raised its position in Selective Insurance Group by 913.1% in the third quarter. Man Group plc now owns 76,263 shares of the insurance provider’s stock worth $4,843,000 after acquiring an additional 68,735 shares in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.
In related news, Director Paul D. Bauer sold 2,500 shares of Selective Insurance Group stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $64.40, for a total transaction of $161,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.
About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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