Royal Bank Of Canada reiterated their hold rating on shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in a research note released on Friday. They currently have a $50.00 price objective on the insurance provider’s stock.

A number of other research firms have also recently issued reports on SIGI. Zacks Investment Research upgraded Selective Insurance Group from a hold rating to a buy rating and set a $51.00 target price for the company in a report on Thursday, April 13th. ValuEngine cut Selective Insurance Group from a buy rating to a hold rating in a report on Friday. BidaskClub cut Selective Insurance Group from a buy rating to a hold rating in a report on Tuesday, July 25th. Boenning Scattergood restated a hold rating on shares of Selective Insurance Group in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $48.00 price objective on shares of Selective Insurance Group in a report on Tuesday, May 2nd. Seven research analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and an average target price of $47.73.

Selective Insurance Group (SIGI) opened at 50.65 on Friday. Selective Insurance Group has a one year low of $34.95 and a one year high of $53.75. The stock’s 50 day moving average price is $50.76 and its 200-day moving average price is $47.76. The stock has a market cap of $2.96 billion, a P/E ratio of 17.64 and a beta of 1.45.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.05. The firm had revenue of $614.50 million for the quarter, compared to the consensus estimate of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. Selective Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. On average, analysts predict that Selective Insurance Group will post $3.08 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, August 11th. Selective Insurance Group’s payout ratio is 22.22%.

In other news, Director Paul D. Bauer sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $50.20, for a total value of $100,400.00. Following the completion of the transaction, the director now owns 76,063 shares in the company, valued at approximately $3,818,362.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory E. Murphy sold 8,789 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $49.80, for a total value of $437,692.20. The disclosure for this sale can be found here. Insiders sold a total of 19,547 shares of company stock valued at $980,209 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. 1st Global Advisors Inc. boosted its position in Selective Insurance Group by 0.9% in the first quarter. 1st Global Advisors Inc. now owns 5,600 shares of the insurance provider’s stock worth $264,000 after buying an additional 50 shares during the last quarter. Tyers Asset Management LLC boosted its position in Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock worth $116,000 after buying an additional 66 shares during the last quarter. Flinton Capital Management LLC boosted its position in Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock worth $148,000 after buying an additional 84 shares during the last quarter. Neuburgh Advisers LLC boosted its position in Selective Insurance Group by 2.8% in the first quarter. Neuburgh Advisers LLC now owns 3,808 shares of the insurance provider’s stock worth $180,000 after buying an additional 102 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock worth $109,000 after buying an additional 106 shares during the last quarter. Institutional investors own 78.08% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

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