Selective Insurance Group (NASDAQ:SIGI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, August 1st.

Other analysts also recently issued reports about the company. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut Selective Insurance Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $48.00 target price on shares of Selective Insurance Group in a research report on Tuesday, May 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $50.00 price target on shares of Selective Insurance Group in a research note on Friday, July 28th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.73.

Selective Insurance Group (NASDAQ SIGI) traded down 2.63% during mid-day trading on Tuesday, hitting $49.65. The stock had a trading volume of 221,321 shares. The stock’s 50-day moving average price is $50.76 and its 200-day moving average price is $48.22. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 17.29 and a beta of 1.44. Selective Insurance Group has a 12 month low of $34.95 and a 12 month high of $53.75.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results 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. The company had revenue of $614.50 million during the quarter, compared to analysts’ expectations of $611.62 million. Selective Insurance Group had a net margin of 6.73% and a return on equity of 10.24%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. On average, analysts predict that Selective Insurance Group will post $3.07 earnings per share for the current year.

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In related news, CEO Gregory E. Murphy sold 8,789 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $49.80, for a total transaction of $437,692.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $51,060.00. The disclosure for this sale can be found here. Insiders sold 20,547 shares of company stock worth $1,031,269 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SIGI. LS Investment Advisors LLC increased its position in shares of Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after buying an additional 106 shares during the period. Tyers Asset Management LLC increased its position in Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock valued at $116,000 after buying an additional 66 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Selective Insurance Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,526 shares of the insurance provider’s stock worth $126,000 after buying an additional 204 shares during the last quarter. Whittier Trust Co. acquired a new stake in Selective Insurance Group during the first quarter worth $144,000. Finally, Flinton Capital Management LLC boosted its stake in Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock worth $148,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 77.58% of the company’s stock.

About Selective Insurance Group

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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