Selective Insurance Group (NASDAQ:SIGI) Releases Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Selective Insurance Group (NASDAQ:SIGI) posted its quarterly earnings results on Wednesday. The insurance provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37), Zacks reports. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%.

Selective Insurance Group Stock Down 1.2 %

NASDAQ SIGI traded down $1.15 during trading hours on Wednesday, reaching $94.02. 403,214 shares of the company’s stock were exchanged, compared to its average volume of 277,040. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. Selective Insurance Group has a one year low of $81.00 and a one year high of $109.58. The company’s 50-day moving average is $95.25 and its two-hundred day moving average is $93.05. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 25.34 and a beta of 0.62.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley started coverage on Selective Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 price target on the stock. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Bank of America increased their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $104.57.

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.