Selective Insurance Group Inc. (NASDAQ:SIGI) has received a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating. Selective Insurance Group’s rating score has declined by 12.4% in the last 90 days as a result of a number of analysts’ ratings changes.
Analysts have set a 12 month consensus target price of $40.67 for the company and are expecting that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Selective Insurance Group an industry rank of 208 out of 265 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods set a $41.00 target price on Selective Insurance Group and gave the stock a “hold” rating in a report on Monday, August 1st.
In related news, CEO Gregory E. Murphy sold 8,333 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $39.92, for a total value of $332,653.36. Following the completion of the sale, the chief executive officer now directly owns 260,380 shares of the company’s stock, valued at approximately $10,394,369.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Rue sold 25,000 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $38.41, for a total value of $960,250.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new stake in Selective Insurance Group during the second quarter worth approximately $107,000. Victory Capital Management Inc. raised its stake in shares of Selective Insurance Group by 77.4% in the second quarter. Victory Capital Management Inc. now owns 3,097 shares of the company’s stock valued at $118,000 after buying an additional 1,351 shares in the last quarter. BlackRock Inc. raised its stake in shares of Selective Insurance Group by 112.7% in the first quarter. BlackRock Inc. now owns 3,815 shares of the company’s stock valued at $140,000 after buying an additional 2,021 shares in the last quarter. Societe Generale acquired a new stake in shares of Selective Insurance Group during the second quarter valued at about $180,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Selective Insurance Group during the second quarter valued at about $180,000. 76.74% of the stock is owned by institutional investors and hedge funds.
Shares of Selective Insurance Group (NASDAQ:SIGI) opened at 39.82 on Tuesday. Selective Insurance Group has a 12 month low of $29.27 and a 12 month high of $41.30. The stock has a 50 day moving average of $39.59 and a 200-day moving average of $37.47. The company has a market cap of $2.30 billion, a PE ratio of 13.46 and a beta of 1.40.
Selective Insurance Group (NASDAQ:SIGI) last issued its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Selective Insurance Group had a return on equity of 12.11% and a net margin of 7.84%. The company had revenue of $568.70 million for the quarter, compared to analysts’ expectations of $569.77 million. During the same period last year, the business earned $0.62 EPS. Selective Insurance Group’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts forecast that Selective Insurance Group will post $2.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, August 11th. Selective Insurance Group’s payout ratio is currently 20.27%.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.
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