Analysts at StockNews.com initiated coverage on shares of Selective Insurance Group (NASDAQ:SIGI – Get Free Report) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the insurance provider’s stock.
A number of other equities analysts have also recently commented on SIGI. Piper Sandler raised their target price on Selective Insurance Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, July 25th. Bank of America raised their target price on Selective Insurance Group from $93.00 to $100.00 and gave the stock an “underperform” rating in a report on Tuesday, July 25th. BMO Capital Markets increased their price target on Selective Insurance Group from $90.00 to $93.00 in a research note on Wednesday, June 14th. Finally, Royal Bank of Canada increased their price target on Selective Insurance Group from $100.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.29.
Get Our Latest Stock Report on SIGI
Selective Insurance Group Price Performance
Shares of Selective Insurance Group stock opened at $104.41 on Thursday. Selective Insurance Group has a one year low of $83.70 and a one year high of $106.54. The stock’s fifty day moving average is $101.65 and its 200 day moving average is $99.17. The stock has a market cap of $6.32 billion, a P/E ratio of 23.52, a P/E/G ratio of 0.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. Selective Insurance Group had a return on equity of 12.83% and a net margin of 7.15%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.17 EPS. Selective Insurance Group’s revenue for the quarter was up 20.3% compared to the same quarter last year. Sell-side analysts anticipate that Selective Insurance Group will post 6.11 earnings per share for the current year.
Insider Activity
In other news, CEO John J. Marchioni sold 2,976 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $99.94, for a total transaction of $297,421.44. Following the completion of the transaction, the chief executive officer now owns 141,460 shares in the company, valued at $14,137,512.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO John J. Marchioni sold 2,976 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $99.94, for a total transaction of $297,421.44. Following the completion of the transaction, the chief executive officer now owns 141,460 shares in the company, valued at $14,137,512.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cynthia S. Nicholson sold 3,020 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $101.51, for a total value of $306,560.20. Following the transaction, the director now owns 16,746 shares of the company’s stock, valued at approximately $1,699,886.46. The disclosure for this sale can be found here. Insiders sold a total of 6,976 shares of company stock worth $703,804 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management grew its position in Selective Insurance Group by 576.9% in the first quarter. Spire Wealth Management now owns 704 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 600 shares in the last quarter. Ronald Blue Trust Inc. grew its position in Selective Insurance Group by 46.0% in the first quarter. Ronald Blue Trust Inc. now owns 740 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 233 shares in the last quarter. Covestor Ltd grew its position in Selective Insurance Group by 37.3% in the first quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 203 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Selective Insurance Group in the first quarter worth about $114,000. Finally, Dundas Partners LLP purchased a new position in Selective Insurance Group in the second quarter worth about $201,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.
About Selective Insurance Group
(Get Free Report)
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers property insurance products, which covers the accidental loss of an insured’s real property, personal property, and/or earnings due to the property’s loss; casualty insurance products that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party; and flood insurance products.
Further Reading
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