Shares of Selective Insurance Group (NASDAQ:SIGI) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $61.50.

A number of research firms have recently issued reports on SIGI. BidaskClub lowered shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. ValuEngine downgraded shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th.

In other Selective Insurance Group news, Director William M. Rue sold 7,795 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $77.64, for a total value of $605,203.80. Following the transaction, the director now owns 337,804 shares in the company, valued at $26,227,102.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. EP Wealth Advisors LLC raised its holdings in shares of Selective Insurance Group by 4.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,346 shares of the insurance provider’s stock valued at $251,000 after purchasing an additional 147 shares in the last quarter. BlackRock Inc. increased its position in Selective Insurance Group by 2.0% during the second quarter. BlackRock Inc. now owns 8,547,451 shares of the insurance provider’s stock worth $640,118,000 after buying an additional 168,925 shares during the last quarter. Phocas Financial Corp. acquired a new position in Selective Insurance Group during the second quarter worth $14,625,000. Royal Bank of Canada raised its holdings in Selective Insurance Group by 25.3% during the second quarter. Royal Bank of Canada now owns 2,394 shares of the insurance provider’s stock valued at $179,000 after buying an additional 484 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in Selective Insurance Group by 362.1% during the second quarter. Eaton Vance Management now owns 163,273 shares of the insurance provider’s stock valued at $12,228,000 after buying an additional 127,941 shares in the last quarter. 79.06% of the stock is owned by institutional investors.

NASDAQ:SIGI traded up $0.22 during trading hours on Friday, hitting $75.34. 8,865 shares of the company’s stock traded hands, compared to its average volume of 230,243. The firm has a market cap of $4.52 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.65 and a beta of 0.82. Selective Insurance Group has a twelve month low of $56.22 and a twelve month high of $81.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The stock’s fifty day moving average price is $78.33 and its two-hundred day moving average price is $72.32.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.10. Selective Insurance Group had a return on equity of 13.53% and a net margin of 8.65%. The firm had revenue of $708.20 million during the quarter, compared to analyst estimates of $707.83 million. During the same period last year, the company posted $1.01 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Selective Insurance Group will post 4.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. Selective Insurance Group’s dividend payout ratio is 21.86%.

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.

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