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Selective Insurance Group (NASDAQ:SIGI) Expected to Post Q1 ...

Selective Insurance Group (NASDAQ:SIGI) Expected to Post Q1 ...

Selective Insurance Group (NASDAQ:SIGI) Expected to Post Q1 2018 Earnings of $0.87 Per Share Posted by Mandy Boone on Jan 6th, 2018 // Selective…

Selective Insurance Group (NASDAQ:SIGI) Expected to Post Q1 ...

Selective Insurance Group (NASDAQ:SIGI) Expected to Post Q1 2018 Earnings of $0.87 Per Share

Posted by Mandy Boone on Jan 6th, 2018 //

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Selective Insurance Group (NASDAQ:SIGI) â€" Research analysts at Boenning Scattergood raised their Q1 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 forecasts that the insurance provider will post earnings per share of $0.87 for the quarter, up from their prior estimate of $0.75. Boenning Scat tergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s Q2 2018 earnings at $0.93 EPS and Q4 2018 earnings at $0.93 EPS.

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

Other analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $55.00 target price on shares of Selective Insurance Group in a research note on Friday, October 27th. Zacks Investment Research raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. BidaskClub cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Keefe, Bruyette & Woods set a $55.00 target price on shares of Selective Insurance Group and gave the company a “hold” rating in a report on Sunday, October 29th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.13.

Shares of Selective Insurance Group (NASDAQ SIGI) opened at $57.5 5 on Friday. The company has a market cap of $3,310.79, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.31 and a beta of 1.45. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a 12 month low of $38.50 and a 12 month high of $62.40.

In other Selective Insurance Group news, Director Michael J. Morrissey sold 1,875 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $61.47, for a total value of $115,256.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Burville sold 600 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $59.10, for a total transaction of $35,460.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,375 shares of company stock worth $2,740,784 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIGI. Public Employees Retirement System of Ohio increased its position in shares of 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 purchasing an additional 23 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 purchasing an additional 204 shares during the last quarter. Advisor Group Inc. increased its position in shares of Selective Insurance Group by 41.3% in the 2nd quarter. Advisor Group Inc. now owns 3,633 shares of the insurance providerâ €™s stock worth $182,000 after purchasing an additional 1,061 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Selective Insurance Group in the 2nd quarter worth about $199,000. Finally, Sciencast Management LP bought a new stake in shares of Selective Insurance Group in the 2nd quarter worth about $200,000. 77.76% of the stock is owned by institutional investors.

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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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