Weekly Investment Analysts’ Ratings Updates for Selective Insurance Group (SIGI)

Several brokerages have updated their recommendations and price targets on shares of Selective Insurance Group (NASDAQ: SIGI) in the last few weeks:

  • 8/1/2017 – Selective Insurance Group was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/1/2017 – Selective Insurance Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Selective Insurance Group, Inc. is a regional insurance holding company which, through its insurance subsidiaries, offers a broad range of property and casualty insurance products. Selective’s commercial insurance products are directed to small- to medium-sized service-oriented businesses, governmental entities and selected classes of light industry. They also offer personal insurance products to individuals and families. “
  • 7/28/2017 – Selective Insurance Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/28/2017 – Selective Insurance Group had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $50.00 price target on the stock.
  • 7/27/2017 – Selective Insurance Group had its “hold” rating reaffirmed by analysts at Boenning Scattergood. They wrote, “We maintain our Neutral rating. Key Points: Reported Results: Selective reported 2Q17 operating EPS of $0.68 versus our estimate of $0.77 and consensus of $0.73. Operating ROE was 9.9%. Premium Production: Net written premium growth (6.2%) was in-line with our projection. Standard commercial insurance and excess & surplus lines premium missed our expectations, while standard personal insurance beat, largely due to $13 million of new business. Management noted renewal pure price increases of 3.1% in standard commercial, 2.6% in standard personal, and 3.7% in excess & surplus lines. Underwriting Ratios: Selective generated a 94.7% combined ratio in 2Q17, more than 2 points higher than we projected due to higher catastrophe losses. Cat losses negatively impacted the combined ratio by 5.2 points, while we expected a 3.2 point impact. Favorable reserve development was just about in-line with our estimate. Adjusting for these differences, the normalized accident year loss ratio was in-line with our estimate. On a per share basis, underwriting results missed our estimate by $0.11. Investment Income: Net investment income was $41.4 million, more than $5 million higher than we projected. On a per share basis, investment results beat us by $0.06. Book Value Per Share: BVPS increased 5% over the last 12 months to $28.32, beating our estimate by $0.38.””
  • 7/25/2017 – Selective Insurance Group was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/12/2017 – Selective Insurance Group was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/12/2017 – Selective Insurance Group had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $48.00 price target on the stock.
  • 7/4/2017 – Selective Insurance Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Selective Insurance Group, Inc. is a regional insurance holding company which, through its insurance subsidiaries, offers a broad range of property and casualty insurance products. Selective’s commercial insurance products are directed to small- to medium-sized service-oriented businesses, governmental entities and selected classes of light industry. They also offer personal insurance products to individuals and families. “
  • 6/23/2017 – Selective Insurance Group was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/17/2017 – Selective Insurance Group was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) traded up 0.68% during midday trading on Wednesday, hitting $51.65. 75,916 shares of the company were exchanged. The company’s 50 day moving average price is $50.64 and its 200 day moving average price is $47.89. Selective Insurance Group, Inc. has a one year low of $34.95 and a one year high of $53.75. The firm has a market cap of $3.01 billion, a P/E ratio of 17.99 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.05. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. The business had revenue of $614.50 million during the quarter, compared to analyst estimates of $611.62 million. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts expect that Selective Insurance Group, Inc. will post $3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a $0.16 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. Selective Insurance Group’s payout ratio is 22.22%.

In other news, CEO Gregory E. Murphy sold 8,789 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $49.80, for a total value of $437,692.20. The transaction was disclosed in a legal filing 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 that occurred on Friday, August 4th. The shares were sold at an average price of $51.06, for a total value of $51,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,547 shares of company stock valued at $1,031,269. Insiders own 3.00% of the company’s stock.

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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