Selective Insurance Group (NASDAQ:SIGI) Stock Rating Lowered by BidaskClub

Selective Insurance Group (NASDAQ:SIGI) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, November 9th, BidAskClub reports.

SIGI has been the topic of several other reports. ValuEngine upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Buckingham Research lifted their target price on shares of Selective Insurance Group from $73.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $74.00.

SIGI traded up $0.39 during trading on Friday, hitting $65.44. The stock had a trading volume of 259,388 shares, compared to its average volume of 272,738. The company has a 50 day simple moving average of $69.34 and a 200-day simple moving average of $74.36. Selective Insurance Group has a 12 month low of $56.22 and a 12 month high of $81.35. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.89 billion, a PE ratio of 17.88, a P/E/G ratio of 2.11 and a beta of 0.71.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.14). Selective Insurance Group had a return on equity of 12.83% and a net margin of 8.53%. The company had revenue of $710.40 million for the quarter, compared to the consensus estimate of $718.14 million. During the same quarter in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Selective Insurance Group will post 4.18 earnings per share for the current fiscal year.

In other news, Director Terrence W. Cavanaugh purchased 1,000 shares of Selective Insurance Group stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $65.00 per share, for a total transaction of $65,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Selective Insurance Group by 2.0% during the second quarter. BlackRock Inc. now owns 8,547,451 shares of the insurance provider’s stock worth $640,118,000 after buying an additional 168,925 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Selective Insurance Group by 1.1% during the second quarter. Vanguard Group Inc. now owns 6,108,078 shares of the insurance provider’s stock worth $457,433,000 after buying an additional 63,672 shares during the last quarter. State Street Corp raised its stake in shares of Selective Insurance Group by 7.5% during the third quarter. State Street Corp now owns 2,015,373 shares of the insurance provider’s stock worth $151,536,000 after buying an additional 140,417 shares during the last quarter. Invesco Ltd. raised its stake in shares of Selective Insurance Group by 3.3% during the second quarter. Invesco Ltd. now owns 643,171 shares of the insurance provider’s stock worth $48,167,000 after buying an additional 20,668 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its stake in shares of Selective Insurance Group by 264.0% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 501,841 shares of the insurance provider’s stock worth $37,583,000 after buying an additional 363,956 shares during the last quarter. Institutional investors own 77.36% of the company’s stock.

Selective Insurance Group Company Profile

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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