Selective Insurance Group (NASDAQ:SIGI) Stock Rating Reaffirmed by Royal Bank of Canada

Selective Insurance Group (NASDAQ:SIGI)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a research report issued on Monday, Benzinga reports. They currently have a $103.00 price target on the insurance provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.20% from the stock’s current price.

Several other research firms also recently issued reports on SIGI. Piper Sandler reiterated a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Finally, Oppenheimer reiterated an “outperform” rating and set a $120.00 price objective on shares of Selective Insurance Group in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $107.20.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $91.80 on Monday. Selective Insurance Group has a one year low of $89.78 and a one year high of $109.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. The company has a 50 day moving average price of $96.72 and a 200 day moving average price of $100.57. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.84 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55). Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. Sell-side analysts anticipate that Selective Insurance Group will post 6.8 EPS for the current year.

Institutional Investors Weigh In On Selective Insurance Group

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Selective Insurance Group by 68.9% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Rise Advisors LLC acquired a new stake in Selective Insurance Group during the 1st quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new stake in Selective Insurance Group during the 1st quarter valued at $48,000. Headinvest LLC acquired a new stake in Selective Insurance Group during the 3rd quarter valued at $62,000. Finally, Burkett Financial Services LLC acquired a new stake in Selective Insurance Group during the 4th quarter valued at $75,000. 82.88% of the stock is owned by institutional investors and hedge funds.

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.