Analysts at JMP Securities initiated coverage on shares of Selective Insurance Group (NASDAQ:SIGI) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “market perform” rating on the insurance provider’s stock.

Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. BidaskClub raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, October 27th. Credit Suisse Group assumed coverage on shares of Selective Insurance Group in a report on Tuesday, August 7th. They issued an “underperform” rating and a $54.00 target price for the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Monday, October 29th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Selective Insurance Group currently has an average rating of “Hold” and an average price target of $61.80.

NASDAQ SIGI opened at $64.50 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.33 and a quick ratio of 0.33. Selective Insurance Group has a 1 year low of $53.55 and a 1 year high of $67.17. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 1.13 and a beta of 1.09.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.10. Selective Insurance Group had a net margin of 6.34% and a return on equity of 11.62%. The company had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million. On average, sell-side analysts anticipate that Selective Insurance Group will post 3.38 EPS for the current fiscal year.

In other news, Director Michael J. Morrissey sold 1,575 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $63.72, for a total value of $100,359.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC purchased a new position in Selective Insurance Group during the third quarter worth about $114,000. Paloma Partners Management Co purchased a new position in Selective Insurance Group during the third quarter worth about $213,000. McQueen Ball & Associates Inc. purchased a new position in Selective Insurance Group during the third quarter worth about $219,000. Private Advisor Group LLC purchased a new position in Selective Insurance Group during the third quarter worth about $276,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Selective Insurance Group during the third quarter worth about $305,000. 78.24% of the stock is owned by hedge funds and other institutional investors.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) 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.

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Analyst Recommendations for Selective Insurance Group (NASDAQ:SIGI)

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