Selective Insurance Group, Inc. (NASDAQ:SIGI) Stock Has Consensus Target Price of $99.33

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $99.33.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets downgraded shares of Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price target on the stock. in a report on Tuesday, July 28th. Weiss Ratings cut shares of Selective Insurance Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. Morgan Stanley upped their target price on shares of Selective Insurance Group from $72.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Piper Sandler lowered their target price on shares of Selective Insurance Group from $105.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, September 28th. Finally, Royal Bank Of Canada raised their price target on shares of Selective Insurance Group from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, July 27th.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $85.25 on Thursday. The business’s fifty day moving average is $90.97 and its 200 day moving average is $88.66. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 10.58 and a beta of 0.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.29 and a current ratio of 0.29. Selective Insurance Group has a 52-week low of $72.78 and a 52-week high of $100.40.

Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.66 by $0.29. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.During the same quarter last year, the company earned $1.31 EPS. Research analysts predict that Selective Insurance Group will post 8.1 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.72 annualized dividend and a yield of 2.0%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 21.34%.

Insider Transactions at Selective Insurance Group

In related news, EVP Michael Lanza sold 17,100 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total transaction of $1,608,084.00. Following the completion of the transaction, the executive vice president directly owned 16,565 shares in the company, valued at $1,557,772.60. The trade was a 50.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Selective Insurance Group

A number of large investors have recently modified their holdings of SIGI. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Selective Insurance Group in the second quarter worth approximately $26,000. Eurizon Capital SGR S.p.A. bought a new stake in Selective Insurance Group during the fourth quarter valued at approximately $25,000. Westpac Banking Corp purchased a new position in Selective Insurance Group in the 4th quarter worth approximately $61,000. Integrated Wealth Concepts LLC purchased a new position in Selective Insurance Group in the 2nd quarter worth approximately $89,000. Finally, Ancora Advisors LLC bought a new position in shares of Selective Insurance Group in the 2nd quarter worth $110,000. Institutional investors own 82.88% of the company’s stock.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. Founded in 1926, the company provides property and casualty insurance through a network of independent agents and operates primarily in the United States.

Selective offers commercial insurance products for businesses, including property, general liability, commercial automobile, workers’ compensation and related coverage. Its personal insurance business provides products such as homeowners, renters and automobile insurance.