ValuEngine upgraded shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) from a hold rating to a buy rating in a report issued on Friday.

SIGI has been the topic of a number of other research reports. BidaskClub upgraded Selective Insurance Group from a sell rating to a hold rating in a research note on Friday, August 11th. Zacks Investment Research cut Selective Insurance Group from a buy rating to a hold rating in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods set a $48.00 price objective on Selective Insurance Group and gave the stock a hold rating in a research note on Tuesday, August 15th. Royal Bank Of Canada restated a hold rating and set a $50.00 price objective on shares of Selective Insurance Group in a research note on Friday, July 28th. Finally, Boenning Scattergood restated a hold rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $47.73.

Shares of Selective Insurance Group (SIGI) opened at 50.70 on Friday. Selective Insurance Group has a one year low of $34.95 and a one year high of $53.75. The firm’s 50-day moving average price is $50.82 and its 200 day moving average price is $49.08. The stock has a market cap of $2.96 billion, a P/E ratio of 17.66 and a beta of 1.44.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.05. The company had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a return on equity of 10.82% and a net margin of 7.13%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities research analysts expect that Selective Insurance Group will post $3.07 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, August 11th. Selective Insurance Group’s dividend payout ratio is presently 22.22%.

In other news, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory E. Murphy sold 8,789 shares of Selective Insurance Group stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $49.80, for a total value of $437,692.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,937 shares of company stock worth $647,833. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SIGI. Nationwide Fund Advisors increased its position in shares of Selective Insurance Group by 7.6% during the first quarter. Nationwide Fund Advisors now owns 114,349 shares of the insurance provider’s stock worth $5,392,000 after acquiring an additional 8,037 shares during the last quarter. First Mercantile Trust Co. increased its position in shares of Selective Insurance Group by 8.5% during the first quarter. First Mercantile Trust Co. now owns 8,390 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 660 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Selective Insurance Group during the first quarter worth about $144,000. Great West Life Assurance Co. Can increased its position in shares of Selective Insurance Group by 6.9% during the first quarter. Great West Life Assurance Co. Can now owns 81,377 shares of the insurance provider’s stock worth $3,833,000 after acquiring an additional 5,246 shares during the last quarter. Finally, Tyers Asset Management LLC increased its position in shares of Selective Insurance Group by 2.8% during the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock worth $116,000 after acquiring an additional 66 shares during the last quarter. 78.09% of the stock is currently 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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