BidaskClub downgraded shares of Selective Insurance Group (NASDAQ:SIGI) from a strong-buy rating to a buy rating in a report published on Saturday, BidAskClub reports.

Separately, ValuEngine downgraded Selective Insurance Group from a buy rating to a hold rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $65.33.

NASDAQ SIGI opened at $75.12 on Friday. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.71 and a beta of 0.82. Selective Insurance Group has a twelve month low of $56.22 and a twelve month high of $81.35. The stock has a fifty day simple moving average of $78.33 and a 200 day simple moving average of $72.32. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.10. Selective Insurance Group had a return on equity of 13.53% and a net margin of 8.65%. The firm had revenue of $708.20 million for the quarter, compared to the consensus estimate of $707.83 million. During the same period in the previous year, the business earned $1.01 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Selective Insurance Group will post 4.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Wednesday, August 14th. Selective Insurance Group’s dividend payout ratio is currently 21.86%.

In other news, Director William M. Rue sold 7,795 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $77.64, for a total transaction of $605,203.80. Following the completion of the sale, the director now directly owns 337,804 shares in the company, valued at $26,227,102.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Cambria Investment Management L.P. bought a new position in shares of Selective Insurance Group in the 1st quarter worth $147,000. Royal Bank of Canada increased its position in shares of Selective Insurance Group by 25.3% during the second quarter. Royal Bank of Canada now owns 2,394 shares of the insurance provider’s stock worth $179,000 after acquiring an additional 484 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Selective Insurance Group during the second quarter worth about $184,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Selective Insurance Group in the 2nd quarter worth about $191,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Selective Insurance Group in the 1st quarter worth about $202,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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