Selective Insurance Group (NASDAQ:SIGI) Stock Rating Reaffirmed by JMP Securities

Selective Insurance Group (NASDAQ:SIGI)‘s stock had its “market perform” rating reissued by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports.

A number of other equities analysts have also recently commented on the company. Keefe, Bruyette & Woods dropped their target price on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Oppenheimer restated an “outperform” rating and set a $120.00 price objective on shares of Selective Insurance Group in a report on Friday, April 5th. Royal Bank of Canada dropped their price objective on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $105.17.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $101.88 on Monday. The stock has a market capitalization of $6.19 billion, a PE ratio of 17.48, a P/E/G ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day simple moving average of $103.58 and a two-hundred day simple moving average of $102.87. Selective Insurance Group has a 1-year low of $91.99 and a 1-year high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, January 31st. The insurance provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. On average, research analysts predict that Selective Insurance Group will post 7.67 EPS for the current fiscal year.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Selective Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of SIGI. Rise Advisors LLC bought a new position in shares of Selective Insurance Group in the 1st quarter worth $27,000. Janiczek Wealth Management LLC raised its position in shares of Selective Insurance Group by 186.5% in the 3rd quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 166 shares in the last quarter. Blue Trust Inc. raised its position in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Selective Insurance Group in the 3rd quarter worth $36,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Selective Insurance Group in the 4th quarter worth $40,000. 82.88% of the stock is owned by institutional investors.

About Selective Insurance Group

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.