Selective Insurance Group (NASDAQ:SIGI) Reaches New 52-Week High at $108.23

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) hit a new 52-week high on Thursday . The stock traded as high as $108.23 and last traded at $108.23, with a volume of 6269 shares. The stock had previously closed at $107.42.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SIGI. Keefe, Bruyette & Woods dropped their target price on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 6th. Royal Bank of Canada dropped their target price on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $105.50.

Selective Insurance Group Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $6.60 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.76 and a beta of 0.55. The company has a 50-day moving average of $103.34 and a 200 day moving average of $102.70.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.92 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. On average, sell-side analysts anticipate that Selective Insurance Group, Inc. will post 7.68 EPS for the current year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.40 dividend on an annualized basis and a yield of 1.29%. Selective Insurance Group’s dividend payout ratio is 24.01%.

Insider Activity at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janiczek Wealth Management LLC increased its stake in shares of Selective Insurance Group by 186.5% in the 3rd quarter. Janiczek Wealth Management LLC now owns 255 shares of the insurance provider’s stock valued at $26,000 after buying an additional 166 shares during the period. Blue Trust Inc. increased its stake in shares of Selective Insurance Group by 68.9% in the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after buying an additional 104 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Selective Insurance Group during the third quarter worth $36,000. Point72 Hong Kong Ltd acquired a new stake in shares of Selective Insurance Group during the fourth quarter worth $40,000. Finally, Headinvest LLC acquired a new stake in shares of Selective Insurance Group during the third quarter worth $62,000. 82.88% of the stock is owned by institutional investors and hedge funds.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.