Selective Insurance Group’s (SIGI) Hold Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reiterated their hold rating on shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) in a research report sent to investors on Tuesday. They currently have a $50.00 target price on the insurance provider’s stock.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Selective Insurance Group from a sell rating to a hold rating in a research note on Wednesday, September 27th. ValuEngine upgraded Selective Insurance Group from a hold rating to a buy rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods set a $48.00 target price on Selective Insurance Group and gave the stock a hold rating in a research report on Tuesday, August 15th. BidaskClub raised Selective Insurance Group from a sell rating to a hold rating in a research note on Friday, August 11th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $47.73.
Shares of Selective Insurance Group (SIGI) traded down 0.36% during mid-day trading on Tuesday, hitting $54.70. 25,309 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $50.98 and a 200-day moving average price of $49.96. Selective Insurance Group has a 52 week low of $34.95 and a 52 week high of $55.15. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 19.05 and a beta of 1.44.
Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.05). The business had revenue of $614.50 million during the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. On average, equities analysts anticipate that Selective Insurance Group will post $3.04 EPS for the current year.
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In other Selective Insurance Group news, Director Michael J. Morrissey sold 665 shares of Selective Insurance Group stock in a transaction on Friday, September 1st. The stock was sold at an average price of $50.81, for a total value of $33,788.65. Following the completion of the transaction, the director now owns 15,177 shares in the company, valued at approximately $771,143.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.06, for a total value of $51,060.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,148 shares of company stock worth $210,141. Company insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Selective Insurance Group by 2.9% during the second quarter. Principal Financial Group Inc. now owns 492,042 shares of the insurance provider’s stock worth $24,626,000 after purchasing an additional 13,956 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Selective Insurance Group by 6.5% in the second quarter. Legal & General Group Plc now owns 130,125 shares of the insurance provider’s stock valued at $6,518,000 after buying an additional 7,919 shares during the last quarter. Tributary Capital Management LLC raised its holdings in shares of Selective Insurance Group by 11.9% in the second quarter. Tributary Capital Management LLC now owns 531,801 shares of the insurance provider’s stock valued at $26,617,000 after buying an additional 56,446 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Selective Insurance Group in the first quarter valued at about $1,472,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Selective Insurance Group by 8.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 310,813 shares of the insurance provider’s stock valued at $14,655,000 after buying an additional 24,910 shares during the last quarter. Institutional investors own 77.73% 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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