BidaskClub downgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a buy rating to a hold rating in a report released on Tuesday.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised Selective Insurance Group from a sell rating to a hold rating in a research note on Tuesday, September 5th. Boenning Scattergood reaffirmed a hold rating on shares of Selective Insurance Group in a research note on Friday, October 27th. ValuEngine raised Selective Insurance Group from a hold rating to a buy rating in a research note on Friday, September 1st. Royal Bank of Canada reaffirmed a hold rating and set a $55.00 price target on shares of Selective Insurance Group in a research note on Friday, October 27th. Finally, Keefe, Bruyette & Woods set a $55.00 price target on Selective Insurance Group and gave the stock a hold rating in a research note on Sunday, October 29th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $54.13.

Selective Insurance Group (SIGI) opened at $59.55 on Tuesday. Selective Insurance Group has a 52 week low of $38.50 and a 52 week high of $62.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $3,410.06, a P/E ratio of 19.40, a P/E/G ratio of 1.55 and a beta of 1.45.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The business had revenue of $621.30 million for the quarter, compared to the consensus estimate of $625.80 million. During the same period in the prior year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts anticipate that Selective Insurance Group will post 3.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.18 per share. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Tuesday, November 14th. Selective Insurance Group’s payout ratio is currently 23.92%.

In other Selective Insurance Group news, Director John Burville sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $59.10, for a total transaction of $35,460.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Morrissey sold 1,875 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $61.47, for a total value of $115,256.25. The disclosure for this sale can be found here. Insiders have sold a total of 45,375 shares of company stock valued at $2,740,784 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SIGI. Goldman Sachs Group Inc. grew its holdings in shares of Selective Insurance Group by 130.3% in the second quarter. Goldman Sachs Group Inc. now owns 995,781 shares of the insurance provider’s stock valued at $49,838,000 after acquiring an additional 563,487 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Selective Insurance Group by 16.2% in the second quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock valued at $68,044,000 after acquiring an additional 189,401 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Selective Insurance Group by 1.6% in the second quarter. Vanguard Group Inc. now owns 5,296,404 shares of the insurance provider’s stock valued at $265,086,000 after acquiring an additional 81,335 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of Selective Insurance Group by 213.8% in the third quarter. Shell Asset Management Co. now owns 93,462 shares of the insurance provider’s stock valued at $2,069,000 after acquiring an additional 63,676 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Selective Insurance Group by 3.9% in the second quarter. State Street Corp now owns 1,414,041 shares of the insurance provider’s stock valued at $70,766,000 after acquiring an additional 53,087 shares in the last quarter. 77.83% of the stock is owned by institutional investors.

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About Selective Insurance Group

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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