Zacks Investment Research upgraded shares of Selective Insurance Group Inc. (NASDAQ:SIGI) from a sell rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “Selective Insurance Group, Inc. is a regional insurance holding company which, through its insurance subsidiaries, offers a broad range of property and casualty insurance products. Selective’s commercial insurance products are directed to small- to medium-sized service-oriented businesses, governmental entities and selected classes of light industry. They also offer personal insurance products to individuals and families. “

Separately, Keefe, Bruyette & Woods set a $41.00 price objective on shares of Selective Insurance Group and gave the stock a hold rating in a research note on Monday, August 1st.

Selective Insurance Group (NASDAQ:SIGI) opened at 41.75 on Tuesday. The stock has a 50 day moving average of $39.14 and a 200 day moving average of $38.65. Selective Insurance Group has a 12-month low of $29.27 and a 12-month high of $42.55. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 14.92 and a beta of 1.22.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, October 26th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.08. The business earned $581.70 million during the quarter, compared to the consensus estimate of $462.11 million. Selective Insurance Group had a return on equity of 10.96% and a net margin of 7.32%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities research analysts anticipate that Selective Insurance Group will post $2.60 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2016/11/30/selective-insurance-group-inc-sigi-upgraded-to-hold-at-zacks-investment-research.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, November 10th. Selective Insurance Group’s payout ratio is presently 22.78%.

In related news, COO John J. Marchioni sold 17,107 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $40.42, for a total transaction of $691,464.94. Following the completion of the transaction, the chief operating officer now directly owns 121,148 shares in the company, valued at approximately $4,896,802.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Morrissey sold 2,364 shares of the company’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $42.30, for a total transaction of $99,997.20. Following the transaction, the director now owns 17,583 shares of the company’s stock, valued at $743,760.90. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. 1st Global Advisors Inc. bought a new position in Selective Insurance Group during the second quarter valued at approximately $204,000. First Quadrant L P CA bought a new position in Selective Insurance Group during the second quarter valued at approximately $646,000. Copper Rock Capital Partners LLC boosted its position in Selective Insurance Group by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 597,940 shares of the company’s stock valued at $22,847,000 after buying an additional 9,276 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Selective Insurance Group by 57.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 28,495 shares of the company’s stock valued at $1,089,000 after buying an additional 10,365 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its position in Selective Insurance Group by 10.8% in the second quarter. Eqis Capital Management Inc. now owns 10,413 shares of the company’s stock valued at $398,000 after buying an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 77.80% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is a holding company with insurance subsidiaries. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses and local government agencies.

5 Day Chart for NASDAQ:SIGI

Receive News & Stock Ratings for Selective Insurance Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group Inc. and related stocks with our FREE daily email newsletter.