Selective Insurance Group, Inc. (NASDAQ:SIGI) has received an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $47.33.

A number of research firms recently issued reports on SIGI. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 target price on shares of Selective Insurance Group in a research note on Tuesday, October 3rd. BidaskClub upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods set a $48.00 target price on shares of Selective Insurance Group and gave the company a “hold” rating in a research note on Tuesday, August 15th. Zacks Investment Research upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, ValuEngine lowered shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.

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Selective Insurance Group (NASDAQ SIGI) opened at 54.50 on Friday. The firm has a 50-day moving average of $51.28 and a 200-day moving average of $50.07. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 18.98 and a beta of 1.44. Selective Insurance Group has a one year low of $34.95 and a one year high of $55.15.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The firm had revenue of $614.50 million during the quarter, compared to analyst estimates of $611.62 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that Selective Insurance Group will post $3.04 EPS for the current year.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 665 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $50.81, for a total value of $33,788.65. Following the completion of the sale, the director now directly owns 15,177 shares of the company’s stock, valued at approximately $771,143.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bauer sold 1,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.06, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,148 shares of company stock valued at $210,141. Insiders own 3.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. First Trust Advisors LP lifted its holdings in shares of Selective Insurance Group by 3.3% during the 1st quarter. First Trust Advisors LP now owns 59,901 shares of the insurance provider’s stock worth $2,824,000 after acquiring an additional 1,910 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Selective Insurance Group by 65.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 37,384 shares of the insurance provider’s stock worth $1,763,000 after acquiring an additional 14,758 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of Selective Insurance Group by 7.6% during the 1st quarter. Mason Street Advisors LLC now owns 13,610 shares of the insurance provider’s stock worth $642,000 after acquiring an additional 967 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Selective Insurance Group by 3.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,230 shares of the insurance provider’s stock worth $857,000 after acquiring an additional 566 shares during the period. Finally, M&T Bank Corp bought a new position in shares of Selective Insurance Group during the 1st quarter worth about $205,000. 77.73% of the stock is owned by hedge funds and other institutional investors.

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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