Selective Insurance Group (NASDAQ:SIGI) shares reached a new 52-week high on Friday . The stock traded as high as $65.45 and last traded at $65.25, with a volume of 938 shares traded. The stock had previously closed at $65.20.
Several research analysts have weighed in on SIGI shares. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Wednesday, June 13th. BidaskClub upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 23rd. Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, August 2nd. Finally, Credit Suisse Group started coverage on shares of Selective Insurance Group in a research report on Tuesday, August 7th. They issued an “underperform” rating and a $54.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Selective Insurance Group currently has an average rating of “Hold” and a consensus target price of $60.40.
The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $3.74 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.11 and a beta of 1.27.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. The firm had revenue of $651.90 million during the quarter, compared to analysts’ expectations of $650.57 million. Selective Insurance Group had a net margin of 6.10% and a return on equity of 10.69%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. analysts anticipate that Selective Insurance Group will post 3.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.10%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 23.15%.
In other news, Director Michael J. Morrissey sold 1,575 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $63.72, for a total value of $100,359.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terrence W. Cavanaugh bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were bought at an average cost of $61.47 per share, with a total value of $61,470.00. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new position in Selective Insurance Group during the first quarter valued at $141,000. DekaBank Deutsche Girozentrale purchased a new position in Selective Insurance Group during the first quarter valued at $176,000. Neuberger Berman Group LLC purchased a new position in Selective Insurance Group during the first quarter valued at $203,000. Csenge Advisory Group purchased a new position in Selective Insurance Group during the first quarter valued at $203,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Selective Insurance Group during the second quarter valued at $235,000. 78.41% of the stock is owned by institutional investors.
Selective Insurance Group Company Profile (NASDAQ:SIGI)
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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