The stock of Selective Insurance Group (NASDAQ:SIGI) reached all time high today, Nov, 24 and still has $44.99 target or 7.00% above today’s $42.05 share price. This indicates more upside for the $2.47 billion company. This technical setup was reported by Barchart.com. If the $44.99 PT is reached, the company will be worth $172.90M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.57% or $0.65 on November 23, hitting $42.05. About 225,322 shares traded hands. Selective Insurance Group (NASDAQ:SIGI) has risen 22.56% since April 22, 2016 and is uptrending. It has outperformed by 17.15% the S&P500.
Analysts await Selective Insurance Group (NASDAQ:SIGI) to report earnings on February, 2. They expect $0.75 earnings per share, down 7.41% or $0.06 from last year’s $0.81 per share. SIGI’s profit will be $44.05M for 14.02 P/E if the $0.75 EPS becomes a reality. After $0.62 actual earnings per share 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. The stock of Selective Insurance Group (NASDAQ:SIGI) earned “Outperform” rating by RBC Capital Markets on Friday, July 31. The firm has “Market Perform” rating given on Wednesday, May 4 by Wood. The stock of Selective Insurance Group (NASDAQ:SIGI) has “Outperform” rating given on Friday, October 30 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 fall, 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.
Ftb accumulated 1,129 shares or 0.01% of the stock. Envestnet Asset Management Incorporated holds 0% of its portfolio in Selective Insurance Group (NASDAQ:SIGI) for 10,946 shares. Tower Research Capital Lc (Trc) has 0% invested in the company for 1,037 shares. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Teachers last reported 0.03% of its portfolio in the stock. Chicago Equity Prns Ltd Com, a Illinois-based fund reported 30,420 shares. Swiss Bank & Trust has 96,800 shares for 0.01% of their US portfolio. Commonwealth Equity has 9,092 shares for 0% of their US portfolio. Moreover, Vanguard Inc has 0.01% invested in Selective Insurance Group (NASDAQ:SIGI) for 4.33M shares. Utd Service Automobile Association last reported 0% of its portfolio in the stock. Moreover, Tompkins Finance has 0.02% invested in Selective Insurance Group (NASDAQ:SIGI) for 1,438 shares. Bb&T holds 0.03% or 31,856 shares in its portfolio. Cim Inv Mangement Inc holds 0.21% or 13,041 shares in its portfolio. Hgk Asset Management Inc reported 11,387 shares or 0.06% of all its holdings. Bancorp Of Montreal Can holds 129,167 shares or 0.01% of its portfolio.
Insider Transactions: Since May 27, 2016, the stock had 1 buying transaction, and 17 selling transactions for $6.90 million net activity. MURPHY GREGORY E sold 8,333 shares worth $324,760. Shares for $251,102 were sold by BROWN A DAVID on Thursday, August 11. 17,107 Selective Insurance Group (NASDAQ:SIGI) shares with value of $691,391 were sold by Marchioni John J.. BAUER PAUL D sold $55,500 worth of stock or 1,500 shares. THATCHER DALE A sold $1.18 million worth of stock or 30,000 shares. 2,900 shares were bought by DOHERTY ROBERT KELLY, worth $107,996. 25,000 shares with value of $960,250 were sold by RUE WILLIAM M on Thursday, August 18.
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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