Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Consensus Rating of “Hold” by Brokerages

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $81.60.

A number of analysts have recently issued reports on SIGI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Selective Insurance Group in a report on Wednesday, October 8th. Zacks Research upgraded shares of Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. BMO Capital Markets cut shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a research report on Tuesday, October 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research note on Tuesday, January 6th. Finally, Piper Sandler lifted their target price on Selective Insurance Group from $76.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd.

Institutional Investors Weigh In On Selective Insurance Group

Several large investors have recently made changes to their positions in SIGI. True Wealth Design LLC increased its holdings in Selective Insurance Group by 45.9% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Selective Insurance Group by 4.0% in the 3rd quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after acquiring an additional 129 shares during the period. Belpointe Asset Management LLC grew its position in shares of Selective Insurance Group by 1.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 8,559 shares of the insurance provider’s stock valued at $694,000 after acquiring an additional 149 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Selective Insurance Group by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 154 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Selective Insurance Group by 2.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,962 shares of the insurance provider’s stock valued at $535,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

SIGI opened at $81.37 on Friday. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 12.54 and a beta of 0.24. The business’s 50-day moving average price is $81.77 and its two-hundred day moving average price is $80.45. Selective Insurance Group has a 1 year low of $71.75 and a 1 year high of $95.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.