Selective Insurance Group (NASDAQ:SIGI) Reaches New 12-Month Low – Should You Sell?

Selective Insurance Group, Inc. (NASDAQ:SIGI) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $80.29 and last traded at $80.52, with a volume of 77846 shares traded. The stock had previously closed at $82.53.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $93.00 price target (down from $116.00) on shares of Selective Insurance Group in a research report on Friday, February 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Down 1.1 %

The business’s 50 day moving average is $89.77 and its 200-day moving average is $92.11. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 24.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.34 and a current ratio of 0.34.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. On average, sell-side analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.94%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 47.21%.

Institutional Investors Weigh In On Selective Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock worth $10,711,000 after purchasing an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Selective Insurance Group by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider’s stock valued at $37,801,000 after acquiring an additional 7,563 shares during the last quarter. Quest Partners LLC boosted its position in shares of Selective Insurance Group by 2,486.8% during the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock valued at $712,000 after acquiring an additional 7,336 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Selective Insurance Group by 38.4% during the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock valued at $603,000 after acquiring an additional 1,747 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after acquiring an additional 21,374 shares during the last quarter. Institutional investors and hedge funds own 82.88% 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. 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.