BidaskClub upgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a sell rating to a hold rating in a report issued on Friday.

SIGI has been the subject of several other research reports. ValuEngine upgraded shares of Selective Insurance Group from a hold rating to a buy rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Selective Insurance Group from a buy rating to a hold rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a hold rating and set a $48.00 price objective on shares of Selective Insurance Group in a research report on Tuesday, May 2nd. Royal Bank Of Canada reiterated a hold rating and set a $50.00 price objective on shares of Selective Insurance Group in a research report on Friday, July 28th. Finally, Boenning Scattergood reiterated a hold rating on shares of Selective Insurance Group in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $47.73.

Selective Insurance Group (NASDAQ:SIGI) traded down 2.63% during mid-day trading on Friday, reaching $49.65. 221,321 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $50.76 and a 200-day moving average price of $48.22. Selective Insurance Group has a 12-month low of $34.95 and a 12-month high of $53.75. The stock has a market capitalization of $2.90 billion, a PE ratio of 17.29 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Selective Insurance Group had a net margin of 6.73% and a return on equity of 10.24%. The business had revenue of $614.50 million for the quarter, compared to the consensus estimate of $611.62 million. During the same quarter last year, the business earned $0.74 EPS. Selective Insurance Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that Selective Insurance Group will post $3.07 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 annualized dividend and a yield of 1.29%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.22%.

In other news, Director A David Brown sold 6,275 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $50.49, for a total value of $316,824.75. Following the completion of the sale, the director now owns 21,650 shares in the company, valued at approximately $1,093,108.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.06, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Insiders sold a total of 20,547 shares of company stock valued at $1,031,269 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. raised 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 valued at $264,000 after buying an additional 50 shares during the period. Tyers Asset Management LLC raised its stake in 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 during the period. Flinton Capital Management LLC raised its stake in 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 during the period. Teacher Retirement System of Texas raised its stake in 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 during the period. Finally, Neuburgh Advisers LLC raised its stake in 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 period. Hedge funds and other institutional investors own 77.58% of the company’s stock.

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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