Analysts Set Selective Insurance Group (SIGI) Price Target at $61.50

Shares of Selective Insurance Group (NASDAQ:SIGI) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $61.50.

SIGI has been the subject of several analyst reports. BidaskClub upgraded Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 18th. ValuEngine downgraded Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Zacks Investment Research upgraded Selective Insurance Group from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, February 12th.

Shares of NASDAQ SIGI traded up $0.98 during midday trading on Thursday, hitting $68.66. 94,256 shares of the company’s stock were exchanged, compared to its average volume of 226,358. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company has a market cap of $4.03 billion, a PE ratio of 18.76, a P/E/G ratio of 1.27 and a beta of 0.95. Selective Insurance Group has a twelve month low of $53.55 and a twelve month high of $68.22.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, January 31st. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.26. The business had revenue of $680.90 million during the quarter, compared to the consensus estimate of $661.70 million. Selective Insurance Group had a return on equity of 12.69% and a net margin of 6.92%. Sell-side analysts forecast that Selective Insurance Group will post 4.2 earnings per share for the current fiscal year.

In related news, Director Paul D. Bauer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $66.28, for a total transaction of $662,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gregory E. Murphy sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $66.25, for a total value of $331,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,614 shares of company stock worth $1,233,550. 2.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in SIGI. Renaissance Technologies LLC increased its holdings in shares of Selective Insurance Group by 667.3% in the third quarter. Renaissance Technologies LLC now owns 40,665 shares of the insurance provider’s stock valued at $2,582,000 after buying an additional 35,365 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Selective Insurance Group by 1.8% in the third quarter. Vanguard Group Inc now owns 5,848,362 shares of the insurance provider’s stock valued at $371,372,000 after buying an additional 105,870 shares in the last quarter. Man Group plc increased its holdings in shares of Selective Insurance Group by 913.1% in the third quarter. Man Group plc now owns 76,263 shares of the insurance provider’s stock valued at $4,843,000 after buying an additional 68,735 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Selective Insurance Group in the third quarter valued at $56,000. Finally, SG Americas Securities LLC increased its holdings in shares of Selective Insurance Group by 33.8% in the fourth quarter. SG Americas Securities LLC now owns 47,112 shares of the insurance provider’s stock valued at $2,871,000 after buying an additional 11,908 shares in the last quarter. 79.86% of the stock is currently owned by hedge funds and other institutional investors.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

Further Reading: Net Asset Value

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