Selective Insurance Group (NASDAQ:SIGI) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, August 1st.
Several other equities research analysts have also commented on SIGI. ValuEngine lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 price target on shares of Selective Insurance Group in a report on Friday, July 28th. Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Zacks Investment Research cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Selective Insurance Group presently has an average rating of “Hold” and an average price target of $47.73.
Selective Insurance Group (NASDAQ SIGI) traded down 2.63% during trading on Tuesday, reaching $49.65. The company’s stock had a trading volume of 221,321 shares. The company has a market capitalization of $2.90 billion, a P/E ratio of 17.29 and a beta of 1.44. Selective Insurance Group has a 12-month low of $34.95 and a 12-month high of $53.75. The firm’s 50-day moving average price is $50.76 and its 200 day moving average price is $48.22.
Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Selective Insurance Group had a return on equity of 10.24% and a net margin of 6.73%. The business had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts predict that Selective Insurance Group will post $3.07 earnings per share for the current fiscal year.
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In other Selective Insurance Group news, CEO Gregory E. Murphy sold 8,789 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $49.80, for a total value of $437,692.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director A David Brown sold 6,275 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $50.49, for a total transaction of $316,824.75. Following the transaction, the director now owns 21,650 shares in the company, valued at $1,093,108.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,547 shares of company stock worth $1,031,269. Insiders own 3.00% of the company’s stock.
Several large investors have recently bought and sold shares of the company. 1st Global Advisors Inc. increased its stake in Selective Insurance Group by 0.9% in the first quarter. 1st Global Advisors Inc. now owns 5,600 shares of the insurance provider’s stock worth $264,000 after buying an additional 50 shares during the period. Tyers Asset Management LLC increased its stake in shares of Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock valued at $116,000 after buying an additional 66 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock valued at $148,000 after buying an additional 84 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Selective Insurance Group by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 4,657 shares of the insurance provider’s stock valued at $233,000 after buying an additional 94 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its position in shares of Selective Insurance Group by 2.8% in the first quarter. Neuburgh Advisers LLC now owns 3,808 shares of the insurance provider’s stock valued at $180,000 after buying an additional 102 shares during the last quarter. 77.58% of the stock is owned by institutional investors and hedge funds.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.
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