Selective Insurance Group (NASDAQ:SIGI) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other equities research analysts have also recently commented on SIGI. Zacks Investment Research raised Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. BidaskClub cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Royal Bank of Canada reaffirmed a “hold” rating and set a $50.00 price objective on shares of Selective Insurance Group in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods set a $55.00 price objective on Selective Insurance Group and gave the company a “hold” rating in a research report on Sunday, October 29th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research report on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.13.

Selective Insurance Group (SIGI) traded up $0.10 during midday trading on Friday, hitting $58.70. The stock had a trading volume of 145,709 shares, compared to its average volume of 174,757. Selective Insurance Group has a 52-week low of $38.50 and a 52-week high of $62.40. The stock has a market capitalization of $3,427.55, a PE ratio of 19.50, a P/E/G ratio of 1.56 and a beta of 1.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS 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 firm had revenue of $621.30 million for the quarter, compared to analysts’ expectations of $625.80 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. equities research analysts expect that Selective Insurance Group will post 3.08 earnings per share for the current year.

In other news, Director Michael J. Morrissey sold 1,875 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $61.47, for a total value of $115,256.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Burville sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $58.76, for a total value of $58,760.00. Following the completion of the transaction, the director now directly owns 82,898 shares in the company, valued at approximately $4,871,086.48. The disclosure for this sale can be found here. Insiders sold 45,375 shares of company stock worth $2,740,784 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in Selective Insurance Group by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock valued at $123,000 after purchasing an additional 23 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Selective Insurance Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock valued at $126,000 after buying an additional 204 shares in the last quarter. Advisor Group Inc. grew its holdings in Selective Insurance Group by 41.3% during the 2nd quarter. Advisor Group Inc. now owns 3,633 shares of the insurance provider’s stock valued at $182,000 after buying an additional 1,061 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in Selective Insurance Group during the 3rd quarter valued at approximately $201,000. Finally, World Asset Management Inc purchased a new position in Selective Insurance Group during the 3rd quarter valued at approximately $209,000. 77.76% of the stock is currently owned by hedge funds and other 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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