Selective Insurance Group (SIGI) Receiving Somewhat Favorable News Coverage, Report Finds
Media coverage about Selective Insurance Group (NASDAQ:SIGI) has been trending somewhat positive recently, Accern reports. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Selective Insurance Group earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave news headlines about the insurance provider an impact score of 45.6962691651568 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Several equities research analysts recently commented on SIGI shares. BidaskClub cut Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 target price on shares of Selective Insurance Group in a research note on Tuesday, May 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 target price on shares of Selective Insurance Group in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.73.
Shares of Selective Insurance Group (NASDAQ SIGI) traded down 2.63% during midday trading on Friday, reaching $49.65. The company’s stock had a trading volume of 221,321 shares. The stock has a 50-day moving average price of $50.76 and a 200-day moving average price of $48.22. Selective Insurance Group has a 52-week low of $34.95 and a 52-week high of $53.75. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 17.29 and a beta of 1.44.
Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.05. Selective Insurance Group had a return on equity of 10.24% and a net margin of 6.73%. The firm had revenue of $614.50 million for the quarter, compared to analysts’ expectations of $611.62 million. During the same quarter last year, the company posted $0.74 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Selective Insurance Group will post $3.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.29%. Selective Insurance Group’s dividend payout ratio (DPR) is 22.22%.
In related news, Director Paul D. Bauer sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.06, for a total value of $51,060.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory E. Murphy sold 8,789 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $49.80, for a total value of $437,692.20. The disclosure for this sale can be found here. Insiders have sold a total of 20,547 shares of company stock worth $1,031,269 in the last quarter. Company insiders own 3.00% of the company’s stock.
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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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