Selective Insurance Group (NASDAQ:SIGI) Announces Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Selective Insurance Group (NASDAQ:SIGI) issued its earnings results on Wednesday. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37), Zacks reports. Selective Insurance Group had a return on equity of 7.39% and a net margin of 4.26%.

Selective Insurance Group Stock Up 1.7 %

Shares of NASDAQ:SIGI traded up $1.38 on Friday, reaching $83.52. The company had a trading volume of 351,199 shares, compared to its average volume of 356,428. Selective Insurance Group has a 52-week low of $80.84 and a 52-week high of $109.58. The firm’s 50 day simple moving average is $94.92 and its 200-day simple moving average is $92.98. The firm has a market capitalization of $5.08 billion, a PE ratio of 25.95 and a beta of 0.62. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Morgan Stanley began coverage on Selective Insurance Group in a research note on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price target for the company. Bank of America raised their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $104.57.

About Selective Insurance Group

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.