Selective Insurance Group (NASDAQ:SIGI) Hits New 1-Year Low – What’s Next?

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) reached a new 52-week low on Friday . The company traded as low as $80.84 and last traded at $82.14, with a volume of 1860444 shares trading hands. The stock had previously closed at $94.02.

Wall Street Analysts Forecast Growth

SIGI has been the topic of several analyst reports. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Thursday. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price target on shares of Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Bank of America boosted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.57.

Selective Insurance Group Stock Performance

The firm has a market capitalization of $4.99 billion, a PE ratio of 22.14 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. The business’s 50 day simple moving average is $94.92 and its two-hundred day simple moving average is $92.98.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. Research analysts expect that Selective Insurance Group, Inc. will post 3.63 earnings per share for the current fiscal year.

Institutional Trading of Selective Insurance Group

Several large investors have recently added to or reduced their stakes in SIGI. R Squared Ltd purchased a new position in shares of Selective Insurance Group during the 4th quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in Selective Insurance Group during the third quarter valued at about $27,000. UMB Bank n.a. raised its stake in shares of Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 402 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Selective Insurance Group in the second quarter worth approximately $44,000. 82.88% of the stock is currently owned by institutional investors.

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.