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

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have earned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $83.00.

SIGI has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Morgan Stanley upped their price objective on shares of Selective Insurance Group from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Monday, November 17th. Keefe, Bruyette & Woods dropped their price objective on Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada initiated coverage on Selective Insurance Group in a report on Monday, November 24th. They set an “outperform” rating and a $95.00 target price on the stock.

Hedge Funds Weigh In On Selective Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming increased its stake in Selective Insurance Group by 17.7% during the 4th quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 113 shares in the last quarter. True Wealth Design LLC lifted its stake in Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after buying an additional 129 shares in the last quarter. Merit Financial Group LLC lifted its stake in Selective Insurance Group by 4.0% in the third quarter. Merit Financial Group LLC now owns 3,345 shares of the insurance provider’s stock valued at $271,000 after buying an additional 129 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Selective Insurance Group by 1.8% in the third quarter. Belpointe Asset Management LLC now owns 8,559 shares of the insurance provider’s stock valued at $694,000 after buying an additional 149 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Selective Insurance Group by 38.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock valued at $46,000 after buying an additional 154 shares during the period. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Selective Insurance Group Stock Down 0.2%

Selective Insurance Group stock opened at $76.41 on Friday. The company’s 50 day simple moving average is $83.55 and its 200 day simple moving average is $81.22. Selective Insurance Group has a fifty-two week low of $71.75 and a fifty-two week high of $93.38. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 10.20 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.33. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Selective Insurance Group will post 7.62 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.3%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.96%.

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.