Selective Insurance Group (SIGI) Rating Lowered to Hold at ValuEngine

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Selective Insurance Group (NASDAQ:SIGI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

SIGI has been the subject of a number of other reports. BidaskClub raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. JMP Securities assumed coverage on Selective Insurance Group in a research note on Friday, November 16th. They issued a “market perform” rating for the company. Zacks Investment Research raised Selective Insurance Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Wednesday, February 6th. Finally, Buckingham Research assumed coverage on Selective Insurance Group in a research note on Friday, December 14th. They set a “neutral” rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Selective Insurance Group has an average rating of “Hold” and an average target price of $64.25.

Shares of SIGI stock traded down $0.55 on Thursday, reaching $63.16. The company had a trading volume of 154,288 shares, compared to its average volume of 146,379. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.31 and a quick ratio of 0.33. The stock has a market cap of $3.92 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90. Selective Insurance Group has a 12 month low of $53.55 and a 12 month high of $67.72.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, January 31st. The insurance provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.26. The company had revenue of $680.90 million during the quarter, compared to analysts’ expectations of $661.70 million. Selective Insurance Group had a return on equity of 12.69% and a net margin of 6.92%. As a group, research analysts anticipate that Selective Insurance Group will post 4.2 earnings per share for the current year.

In related news, Director Paul D. Bauer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $66.28, for a total transaction of $662,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Burville sold 3,614 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $66.27, for a total value of $239,499.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,614 shares of company stock valued at $1,233,550. 2.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Selective Insurance Group by 3.5% during the 3rd quarter. BlackRock Inc. now owns 8,434,767 shares of the insurance provider’s stock worth $535,608,000 after acquiring an additional 284,094 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Selective Insurance Group by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,848,362 shares of the insurance provider’s stock worth $371,372,000 after acquiring an additional 105,870 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Selective Insurance Group by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 5,848,362 shares of the insurance provider’s stock worth $371,372,000 after acquiring an additional 105,870 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Selective Insurance Group by 8.9% during the 3rd quarter. Macquarie Group Ltd. now owns 3,091,575 shares of the insurance provider’s stock worth $196,315,000 after acquiring an additional 253,124 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Selective Insurance Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,061,088 shares of the insurance provider’s stock worth $67,379,000 after acquiring an additional 11,769 shares in the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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Analyst Recommendations for Selective Insurance Group (NASDAQ:SIGI)

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