The stock of Selective Insurance Group (NASDAQ:SIGI) hit a new 52-week high and has $45.98 target or 9.00% above today’s $42.18 share price. The 9 months bullish chart indicates low risk for the $2.44 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $45.98 price target is reached, the company will be worth $219.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 218,956 shares traded hands. Selective Insurance Group (NASDAQ:SIGI) has risen 23.14% since April 25, 2016 and is uptrending. It has outperformed by 17.13% the S&P500.
Analysts await Selective Insurance Group (NASDAQ:SIGI) to report earnings on February, 2. They expect $0.75 EPS, down 7.41% or $0.06 from last year’s $0.81 per share. SIGI’s profit will be $43.39M for 14.06 P/E if the $0.75 EPS becomes a reality. After $0.62 actual EPS reported by Selective Insurance Group for the previous quarter, Wall Street now forecasts 20.97% EPS growth.
Selective Insurance Group (NASDAQ:SIGI) Ratings Coverage
Out of 2 analysts covering Selective Insurance (NASDAQ:SIGI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Selective Insurance has been the topic of 3 analyst reports since July 31, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of SIGI in a report on Friday, October 30 with “Outperform” rating. The stock has “Market Perform” rating given by Wood on Wednesday, May 4. As per Friday, July 31, the company rating was maintained by RBC Capital Markets.
According to Zacks Investment Research, “Selective Insurance Group, Inc. is a regional insurance holding company which, through its insurance subsidiaries, offers a broad range of property and casualty insurance products. Selective’s commercial insurance products are directed to small- to medium-sized service-oriented businesses, governmental entities and selected classes of light industry. They also offer personal insurance products to individuals and families.”
Insitutional Activity: The institutional sentiment decreased to 0.81 in 2016 Q2. Its down 0.01, from 0.82 in 2016Q1. The ratio is negative, as 14 funds sold all Selective Insurance Group shares owned while 81 reduced positions. 16 funds bought stakes while 62 increased positions. They now own 42.44 million shares or 8.31% less from 46.29 million shares in 2016Q1.
The Georgia-based Suntrust Banks has invested 0% in Selective Insurance Group (NASDAQ:SIGI). Copper Rock Partners Llc has 597,940 shares for 1.73% of their US portfolio. Comerica State Bank accumulated 0.02% or 57,584 shares. Td Asset Management last reported 0% of its portfolio in the stock. First Mercantile Tru has invested 0.08% of its portfolio in Selective Insurance Group (NASDAQ:SIGI). California Pub Employees Retirement Sys has 160,839 shares for 0.01% of their US portfolio. First Tru Advisors L P owns 35,498 shares or 0% of their US portfolio. Mckinley Capital Ltd Llc Delaware holds 0.2% of its portfolio in Selective Insurance Group (NASDAQ:SIGI) for 110,477 shares. Envestnet Asset Inc holds 10,946 shares or 0% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 2,074 shares for 0% of their US portfolio. Shell Asset Mgmt Com last reported 86,647 shares in the company. Moreover, Citigroup Inc has 0% invested in Selective Insurance Group (NASDAQ:SIGI) for 64,067 shares. Tower Research Limited Company (Trc) accumulated 1,037 shares or 0% of the stock. The California-based Franklin Resources Incorporated has invested 0.01% in Selective Insurance Group (NASDAQ:SIGI). Smith Graham Communication Advisors L P accumulated 1.18% or 223,930 shares.
Insider Transactions: Since June 1, 2016, the stock had 1 buying transaction, and 16 insider sales for $6.84 million net activity. $1.18 million worth of Selective Insurance Group (NASDAQ:SIGI) was sold by THATCHER DALE A. On Wednesday, June 15 the insider MURPHY GREGORY E sold $307,680. O KELLEY RONALD L sold $123,681 worth of Selective Insurance Group (NASDAQ:SIGI) on Tuesday, June 7. $55,500 worth of Selective Insurance Group (NASDAQ:SIGI) was sold by BAUER PAUL D on Wednesday, June 1. Another trade for 2,900 shares valued at $107,996 was bought by DOHERTY ROBERT KELLY. Marchioni John J. sold $691,391 worth of stock or 17,107 shares. BROWN A DAVID sold $251,102 worth of stock.
More notable recent Selective Insurance Group (NASDAQ:SIGI) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: TCF Financial, Selective Insurance Group and PacWest Bancorp” on November 08, 2016, also Prnewswire.com with their article: “Selective Insurance Names Mark Wilcox Chief Financial Officer” published on October 31, 2016, Insurancejournal.com published: “New Jersey’s Selective Insurance Group Hires Wilcox to Succeed CFO” on November 01, 2016. More interesting news about Selective Insurance Group (NASDAQ:SIGI) were released by: Nasdaq.com and their article: “Selective Insurance Group Breaks Below 200-Day Moving Average – Notable for SIGI” published on October 27, 2016 as well as Prnewswire.com‘s news article titled: “Selective Insurance Announces Dale Thatcher’s Plans to Retire as Chief …” with publication date: March 07, 2016.
SIGI Company Profile
Selective Insurance Group, Inc., incorporated in August 1977, is a holding firm with insurance subsidiaries. The Firm has 10 insurance subsidiaries, nine of which are licensed by various state departments of insurance to write specific lines of property and casualty insurance business in the standard market. 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. The Firm operates its business through four divisions: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The Company’s Standard Commercial Lines segment consists of insurance services and products provided in the standard marketplace to its commercial customers, including businesses, non-profit organizations, and local government agencies. The Company’s Standard Personal Lines segment consists of insurance services and products, including flood insurance coverage that it writes through the National Flood Insurance Program (NFIP), provided primarily to individuals acquiring coverage in the standard marketplace. The Company’s E&S Lines segment consists of insurance services and products provided to clients who have not obtained coverage in the standard marketplace. It only writes commercial lines E&S coverages. The Company’s investment segment invests insurance premiums, as well as amounts generated through its capital management strategies, which includes the issuance of debt and equity securities, to generate investment income and to satisfy obligations to its customers, its shareholders, and its debt holders, among others.
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