Selective Insurance Group (SIGI) announced its quarterly results on Wednesday. The company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters consensus estimate of ($0.45) by $0.11. The company’s quarterly revenue was up 1.1% on a year-over-year basis.
On a related note, analysts at Piper Jaffray (NYSE: PJC) cut their price target on shares of Selective Insurance Group to $16.00 in a research note to investors on Tuesday, October 11st. Analysts at Zacks Investment Research downgraded shares of Selective Insurance Group from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, October 11st. Also, analysts at Bank of America Merrill Lynch upgraded shares of Selective Insurance Group from a “neutral” rating to a “buy” rating in a research note to investors on Friday, October 7th.
Shares of Selective Insurance Group (SIGI) traded up 3.15% during mid-day trading on Wednesday, hitting $15.74. Selective Insurance Group (SIGI) has a 52 week low of $12.34 and a 52 week high of $18.97. The stock’s 50-day moving average is $13.72 and its 200-day moving average is $15.58. The company has a market cap of $852.5 million and a price-to-earnings ratio of 12.97.
Selective Insurance Group, Inc. is a holding company of seven insurance subsidiaries. The Company, through its subsidiaries, offers property and casualty insurance products and services in the East and Midwest of the United States. The Company operates through two segments: Insurance Operations, which sells property and casualty insurance policies and products, and Investment Operations, which invests the premiums collected by the Insurance Operations. During the year ended December 31, 2009, the Company realigned its federal flood insurance administrative services (Flood) business into Insurance Operations. In addition, in 2009, the Company disposed of Selective HR, which comprised its HR Outsourcing segment
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