Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives $104.57 Consensus Target Price from Analysts

Selective Insurance Group, Inc. (NASDAQ:SIGI) has been given an average recommendation of “Hold” by the eight analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $104.57.

SIGI has been the topic of several research analyst reports. Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods lifted their target price on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley initiated coverage on shares of Selective Insurance Group in a research note on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price objective on the stock. Royal Bank of Canada increased their target price on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Selective Insurance Group by 28.6% in the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after buying an additional 1,216,801 shares during the period. State Street Corp grew its holdings in shares of Selective Insurance Group by 3.1% during the 3rd quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock valued at $224,097,000 after acquiring an additional 71,296 shares in the last quarter. Geode Capital Management LLC increased its position in Selective Insurance Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock worth $148,048,000 after purchasing an additional 26,880 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Selective Insurance Group by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,416,957 shares of the insurance provider’s stock worth $132,949,000 after buying an additional 62,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after purchasing an additional 21,374 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

Selective Insurance Group Trading Down 1.0 %

Shares of SIGI opened at $93.28 on Tuesday. The stock has a fifty day moving average of $95.80 and a two-hundred day moving average of $93.00. Selective Insurance Group has a fifty-two week low of $81.00 and a fifty-two week high of $109.58. The company has a market capitalization of $5.67 billion, a PE ratio of 25.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $1.51 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts forecast that Selective Insurance Group will post 3.61 EPS for the current year.

Selective Insurance Group Company Profile

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 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; 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; and flood insurance products.