Selective Insurance Group (SIGI) Upgraded at BidaskClub

BidaskClub upgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

Other analysts have also recently issued reports about the stock. Boenning Scattergood reaffirmed a hold rating on shares of Selective Insurance Group in a report on Thursday, May 2nd. Zacks Investment Research raised shares of Selective Insurance Group from a hold rating to a buy rating and set a $73.00 price target on the stock in a report on Tuesday, February 12th. Finally, ValuEngine raised shares of Selective Insurance Group from a hold rating to a buy rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Selective Insurance Group has a consensus rating of Hold and an average price target of $65.33.

NASDAQ SIGI opened at $70.90 on Tuesday. The firm has a market cap of $4.21 billion, a PE ratio of 19.37, a PEG ratio of 1.61 and a beta of 0.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. Selective Insurance Group has a 52 week low of $54.60 and a 52 week high of $72.60.



Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). The company had revenue of $699.00 million during the quarter, compared to analyst estimates of $697.30 million. Selective Insurance Group had a net margin of 8.32% and a return on equity of 13.72%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, equities research analysts anticipate that Selective Insurance Group will post 4.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.80 annualized dividend and a yield of 1.13%. Selective Insurance Group’s dividend payout ratio is presently 21.86%.

In other Selective Insurance Group news, CEO Gregory E. Murphy sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $66.25, for a total transaction of $331,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul D. Bauer sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $66.28, for a total transaction of $662,800.00. The disclosure for this sale can be found here. Insiders sold 38,803 shares of company stock worth $2,665,611 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in SIGI. Vaughan Nelson Investment Management L.P. bought a new stake in Selective Insurance Group during the fourth quarter valued at $52,892,000. Norges Bank bought a new stake in Selective Insurance Group during the fourth quarter valued at $41,822,000. Mesirow Financial Investment Management Equity Management bought a new stake in Selective Insurance Group during the fourth quarter valued at $11,517,000. Morgan Stanley increased its stake in Selective Insurance Group by 75.1% during the third quarter. Morgan Stanley now owns 262,022 shares of the insurance provider’s stock valued at $16,638,000 after purchasing an additional 112,412 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Selective Insurance Group by 1.8% during the third quarter. Vanguard Group Inc now owns 5,848,362 shares of the insurance provider’s stock valued at $371,372,000 after purchasing an additional 105,870 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus 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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