Q3 2017 EPS Estimates for Selective Insurance Group, Inc. Decreased by Boenning Scattergood (SIGI)

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Equities researchers at Boenning Scattergood lowered their Q3 2017 EPS estimates for shares of Selective Insurance Group in a report issued on Thursday. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will earn $0.63 per share for the quarter, down from their prior estimate of $0.83. Boenning Scattergood has a “Hold” rating on the stock.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.05). The business had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a net margin of 7.13% and a return on equity of 10.82%. Selective Insurance Group’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share.

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A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of Selective Insurance Group in a research note on Tuesday, October 3rd. ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods set a $48.00 price objective on Selective Insurance Group and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, BidaskClub raised Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $46.91.

Selective Insurance Group (NASDAQ:SIGI) opened at 54.80 on Monday. The stock’s 50 day moving average price is $51.87 and its 200-day moving average price is $50.38. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.09 and a beta of 1.44. Selective Insurance Group has a one year low of $34.95 and a one year high of $55.40.

In other news, Director Michael J. Morrissey sold 665 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $50.81, for a total transaction of $33,788.65. Following the completion of the sale, the director now owns 15,177 shares in the company, valued at $771,143.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul D. Bauer sold 1,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $51.06, for a total value of $51,060.00. The disclosure for this sale can be found here. In the last three months, insiders sold 4,148 shares of company stock worth $210,141. Insiders own 3.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in shares of Selective Insurance Group by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,449 shares of the insurance provider’s stock worth $123,000 after acquiring an additional 23 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Selective Insurance Group by 2.1% during 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 raised its position in shares of Selective Insurance Group by 5.1% during 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. Municipal Employees Retirement System of Michigan raised its position in shares of Selective Insurance Group by 0.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 16,770 shares of the insurance provider’s stock worth $790,000 after acquiring an additional 130 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Selective Insurance Group by 1.7% during 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. Institutional investors own 77.73% 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.

Earnings History and Estimates for Selective Insurance Group (NASDAQ:SIGI)

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