Keefe, Bruyette & Woods set a $55.00 price target on Selective Insurance Group, Inc. (NASDAQ:SIGI) in a research note released on Sunday. The brokerage currently has a hold rating on the insurance provider’s stock.

Several other analysts also recently weighed in on the company. Royal Bank Of Canada restated a hold rating and set a $55.00 target price on shares of Selective Insurance Group in a research note on Friday. Boenning Scattergood restated a hold rating on shares of Selective Insurance Group in a research note on Friday. Zacks Investment Research downgraded Selective Insurance Group from a hold rating to a sell rating in a research note on Saturday, October 14th. ValuEngine upgraded Selective Insurance Group from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded Selective Insurance Group from a sell rating to a hold rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $49.91.

Shares of Selective Insurance Group (SIGI) traded down 1.60% during mid-day trading on Friday, reaching $58.25. The company’s stock had a trading volume of 192,803 shares. Selective Insurance Group has a 52 week low of $34.95 and a 52 week high of $59.45. The firm has a market capitalization of $3.40 billion, a PE ratio of 20.29 and a beta of 1.44. The firm has a 50-day moving average of $53.57 and a 200-day moving average of $51.04.

Selective Insurance Group (NASDAQ:SIGI) last announced its earnings results on Wednesday, October 25th. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.10. The company had revenue of $621.30 million during the quarter, compared to the consensus estimate of $625.80 million. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Equities research analysts forecast that Selective Insurance Group will post $2.98 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.24%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, November 14th. Selective Insurance Group’s dividend payout ratio (DPR) is 21.26%.

In related news, Director Paul D. Bauer sold 1,000 shares of Selective Insurance Group stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.06, for a total value of $51,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Morrissey sold 665 shares of Selective Insurance Group stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.81, for a total value of $33,788.65. Following the completion of the transaction, the director now owns 15,177 shares of the company’s stock, valued at $771,143.37. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in Selective Insurance Group by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 23 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Selective Insurance Group by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 4,657 shares of the insurance provider’s stock worth $233,000 after acquiring an additional 94 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in 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 worth $109,000 after acquiring an additional 106 shares during the last quarter. Amalgamated Bank lifted its holdings in Selective Insurance Group by 1.7% in the second quarter. Amalgamated Bank now owns 7,839 shares of the insurance provider’s stock worth $392,000 after acquiring an additional 132 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.

Selective Insurance Group Company Profile

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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