JMP Securities Reaffirms Market Perform Rating for Selective Insurance Group (NASDAQ:SIGI)

Selective Insurance Group (NASDAQ:SIGI)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a report issued on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $104.00 to $99.00 in a research note on Monday. Royal Bank of Canada dropped their price target on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research report on Monday. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a research report on Friday, April 5th. Bank of America dropped their target price on shares of Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research report on Thursday, July 11th. Finally, Piper Sandler reduced their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $99.40.

Selective Insurance Group Trading Up 2.9 %

NASDAQ SIGI traded up $2.39 during trading hours on Tuesday, reaching $85.88. The company’s stock had a trading volume of 132,800 shares, compared to its average volume of 330,583. The firm has a fifty day simple moving average of $94.12 and a 200-day simple moving average of $99.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The stock has a market cap of $5.22 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.75 and a beta of 0.54.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($2.59). The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.80%. During the same quarter last year, the company posted $0.99 earnings per share. Equities analysts forecast that Selective Insurance Group will post 6.75 earnings per share for the current fiscal year.

Insider Transactions at Selective Insurance Group

In related news, CEO John J. Marchioni bought 2,400 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were bought at an average price of $83.56 per share, for a total transaction of $200,544.00. Following the completion of the acquisition, the chief executive officer now directly owns 136,397 shares of the company’s stock, valued at $11,397,333.32. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Selective Insurance Group

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Selective Insurance Group by 68.9% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Rise Advisors LLC purchased a new stake in Selective Insurance Group in the 1st quarter valued at about $27,000. GAMMA Investing LLC lifted its position in shares of Selective Insurance Group by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Selective Insurance Group in the 1st quarter worth approximately $48,000. Finally, Burkett Financial Services LLC bought a new position in shares of Selective Insurance Group in the fourth quarter valued at approximately $75,000. Institutional investors own 82.88% 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. 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.