BidaskClub Lowers Selective Insurance Group (SIGI) to Buy
BidaskClub cut shares of Selective Insurance Group (NASDAQ:SIGI) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.
SIGI has been the topic of several other reports. Credit Suisse Group raised their price target on Selective Insurance Group from $54.00 to $61.00 and gave the stock a sell rating in a research report on Wednesday, October 31st. ValuEngine lowered Selective Insurance Group from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Zacks Investment Research lowered Selective Insurance Group from a hold rating to a sell rating in a research report on Friday, October 26th. JMP Securities began coverage on Selective Insurance Group in a research report on Friday, November 16th. They issued a market perform rating on the stock. Finally, Boenning Scattergood restated a hold rating on shares of Selective Insurance Group in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Selective Insurance Group presently has a consensus rating of Hold and an average target price of $62.40.
Shares of SIGI opened at $59.76 on Wednesday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 0.89 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.33 and a current ratio of 0.33. Selective Insurance Group has a 52 week low of $53.55 and a 52 week high of $67.17.
In related news, Director Paul D. Bauer sold 2,500 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $64.40, for a total transaction of $161,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in Selective Insurance Group by 1.8% during the 4th quarter. State of Alaska Department of Revenue now owns 19,690 shares of the insurance provider’s stock worth $1,199,000 after buying an additional 340 shares during the period. American International Group Inc. raised its stake in Selective Insurance Group by 1.9% during the 3rd quarter. American International Group Inc. now owns 45,683 shares of the insurance provider’s stock worth $2,901,000 after buying an additional 871 shares during the period. Csenge Advisory Group acquired a new stake in Selective Insurance Group during the 3rd quarter worth $56,000. Metropolitan Life Insurance Co. NY raised its stake in Selective Insurance Group by 5.8% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 18,651 shares of the insurance provider’s stock worth $1,026,000 after buying an additional 1,029 shares during the period. Finally, First National Bank of Omaha raised its stake in Selective Insurance Group by 2.3% during the 3rd quarter. First National Bank of Omaha now owns 46,700 shares of the insurance provider’s stock worth $2,965,000 after buying an additional 1,040 shares during the period. 78.42% of the stock is currently owned by institutional investors and hedge funds.
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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