Selective Insurance Group (NASDAQ:SIGI – Get Free Report) had its price target reduced by equities research analysts at Piper Sandler from $112.00 to $106.00 in a report issued on Friday, FlyOnTheWall reports. Piper Sandler’s price objective would indicate a potential upside of 0.31% from the stock’s current price.
Several other research firms have also recently weighed in on SIGI. StockNews.com began coverage on Selective Insurance Group in a research note on Thursday. They set a “hold” rating for the company. Bank of America boosted their target price on Selective Insurance Group from $93.00 to $100.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 25th. Royal Bank of Canada boosted their price objective on Selective Insurance Group from $100.00 to $105.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Finally, BMO Capital Markets boosted their price objective on Selective Insurance Group from $90.00 to $93.00 in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.29.
Read Our Latest Analysis on Selective Insurance Group
Selective Insurance Group Stock Performance
Shares of Selective Insurance Group stock opened at $105.67 on Friday. Selective Insurance Group has a one year low of $83.70 and a one year high of $106.54. The company has a market cap of $6.40 billion, a PE ratio of 23.80, a P/E/G ratio of 0.80 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. The business has a 50-day simple moving average of $101.65 and a 200-day simple moving average of $99.09.
Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Selective Insurance Group had a return on equity of 12.83% and a net margin of 7.15%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, equities research analysts forecast that Selective Insurance Group will post 6.11 EPS for the current fiscal year.
Insider Activity at Selective Insurance Group
In related news, Director Cynthia S. Nicholson sold 3,020 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $101.51, for a total transaction of $306,560.20. Following the sale, the director now owns 16,746 shares of the company’s stock, valued at $1,699,886.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO John J. Marchioni sold 2,976 shares of the 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 transaction, the chief executive officer now directly owns 141,460 shares in the company, valued at $14,137,512.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cynthia S. Nicholson sold 3,020 shares of the stock in a transaction dated Friday, August 18th. The stock was 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 in the company, valued at $1,699,886.46. The disclosure for this sale can be found here. Insiders have sold a total of 6,976 shares of company stock valued at $703,804 over the last quarter. Insiders own 1.50% of the company’s stock.
Hedge Funds Weigh In On Selective Insurance Group
Several large investors have recently added to or reduced their stakes in the business. Advisor Partners II LLC lifted its position in Selective Insurance Group by 4.0% during the first quarter. Advisor Partners II LLC now owns 3,394 shares of the insurance provider’s stock worth $324,000 after buying an additional 132 shares during the period. HBK Sorce Advisory LLC raised its holdings in shares of Selective Insurance Group by 3.2% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,271 shares of the insurance provider’s stock worth $617,000 after purchasing an additional 133 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Selective Insurance Group by 4.6% in the 1st quarter. Mackenzie Financial Corp now owns 3,359 shares of the insurance provider’s stock worth $300,000 after purchasing an additional 147 shares during the period. Cim Investment Management Inc. raised its holdings in shares of Selective Insurance Group by 3.6% in the 1st quarter. Cim Investment Management Inc. now owns 4,337 shares of the insurance provider’s stock worth $413,000 after purchasing an additional 150 shares during the period. Finally, Creative Planning raised its holdings in shares of Selective Insurance Group by 0.6% in the 2nd quarter. Creative Planning now owns 25,118 shares of the insurance provider’s stock worth $2,184,000 after purchasing an additional 153 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Selective Insurance Group Company Profile
(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.
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