Boenning Scattergood Comments on Selective Insurance Group's ...
Boenning Scattergood Comments on Selective Insurance Group’s Q3 2018 Earnings (NASDAQ:SIGI) Posted by Tatum Peregrin on Jan 3rd, 2018 // …
Boenning Scattergood Comments on Selective Insurance Group’s Q3 2018 Earnings (NASDAQ:SIGI)
Posted by Tatum Peregrin on Jan 3rd, 2018 //
Selective Insurance Group (NASDAQ:SIGI) â€" Investment analysts at Boenning Scattergood lifted their Q3 2018 earnings per share (EPS) estimates for shares of Selective Insurance Group in a report released on Thursday, Zacks Investment Research reports. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will post earnings per share of $0.98 for the quarter, up from their previous estimate of $0.84. Boenning Scattergood has a “Hold†rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s FY2018 earnings at $3.71 EPS and FY2019 earnings at $3.64 EPS.
Several other equities analysts have also issued reports on SIGI. Zacks Investment Research upgraded Selective Insurance Group from a “sell†rating to a “hold†rating in a research report on Tuesday, September 5th. Royal Bank of Canada restated a “hold†rating and set a $50.00 price target on shares of Selective Insurance Group in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods set a $55.00 price target on Selective Insurance Group and gave the stock a “hold†rating in a research report on Sunday, October 29th. BidaskClub lowered Selective Insurance Group from a “buy†rating to a “hold†rating in a research report on Tuesday, December 12th. Finally, ValuEngine upgraded Selective Insurance Group from a “hold†rating to a “buy†rating in a research report on Sunday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold†and a consensus target price of $54.13.
Shares of Selective Insurance Group (SIGI) traded down $1.25 during trading on Monday, hitting $57.45. The stock had a trading volume of 268,617 shares, compared to its average volume of 210,950. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. Selective Insurance Group has a 12-month low of $38.50 and a 12-month high of $62.40. The company has a market cap of $3,427.57, a price-to-earnings ratio of 19.09, a PEG ratio of 1.56 and a beta of 1.45.
Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.62 by $0.10. The firm had revenue of $621.30 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.66 EPS.
In other Selective Insurance Group news, Director Paul D. Bauer sold 28,840 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $61.14, for a total value of $1,763,277.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Burville sold 1,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $58.76, for a total value of $58,760.00. Following the completion of the sale, the dir ector now owns 82,898 shares of the company’s stock, valued at approximately $4,871,086.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,375 shares of company stock valued at $2,740,784. Company insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in Selective Insurance Group by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock worth $123,000 after buying an additional 23 shares during the period. Teacher Retirement System of Texas lifted its holdings in Selective Insurance Group by 2.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,657 shares of the insurance provider’s stock worth $233,000 after buying an additional 94 shares during the period. Amalgamated Bank lifted its holdings in Selective Insurance Group by 1.7% in the 2nd quarter. Amalgamated Bank now owns 7,839 shares of the insurance provider’s stock worth $392,000 after buying an additional 132 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Selective Insurance Group by 8.8% in the 2nd 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 period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Selective Insurance Group by 0.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,119 shares of the insurance provider’s stock worth $2,209,000 after buying an additional 276 shares during the period. Institutional investors and hedge funds own 77.76% of the company’s stock.
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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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