Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have received an average rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $83.00.

A number of research analysts have weighed in on SIGI shares. Keefe, Bruyette & Woods decreased their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research report on Tuesday, January 6th. Piper Sandler upped their price target on Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada began coverage on Selective Insurance Group in a research report on Monday, November 24th. They set an “outperform” rating and a $95.00 price target on the stock.

Hedge Funds Weigh In On Selective Insurance Group

A number of large investors have recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Selective Insurance Group in the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Selective Insurance Group during the fourth quarter worth about $25,000. First Horizon Corp acquired a new position in shares of Selective Insurance Group during the 3rd quarter worth about $29,000. True Wealth Design LLC raised its position in shares of Selective Insurance Group by 45.9% during the 4th 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. Finally, Amundi lifted its stake in Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after buying an additional 311 shares in the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Price Performance

NASDAQ:SIGI opened at $74.04 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The company has a 50 day moving average price of $82.60 and a 200-day moving average price of $81.10. Selective Insurance Group has a 1-year low of $71.75 and a 1-year high of $93.38. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 9.89 and a beta of 0.23.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.33. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Equities research analysts forecast that Selective Insurance Group will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a yield of 2.3%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.96%.

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.