Market Analysts see Selective Insurance Group Inc. [SIGI] gaining to $96. Time to buy?

Selective Insurance Group Inc. [NASDAQ: SIGI] closed the trading session at $90.85 on 12/23/22. The day’s price range saw the stock hit a low of $90.00, while the highest price level was $91.235. The company report on December 8, 2022 that MOST U.S. RESIDENTS DECK THE HALLS WITH FIRE HAZARDS, SELECTIVE INSURANCE STUDY REVEALS.


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Make sure it’s only the yule log burning before you decorate this holiday season, urges Selective Insurance, a leading business, home, auto, and flood insurance company. A recent survey commissioned by Selective Insurance and conducted online by The Harris Poll among more than 2,000 U.S. adults found that 97% of those who decorate inside their homes for the holidays do so with at least one fire hazard.

Some of these fire hazards include natural Christmas Trees (28%), real candles (24%), and tinsel (28%). Many holiday decorators (31%) use two or more extension cords plugged into each other to provide electricity to their decorations. Although the National Fire Safety Association recommends watering natural Christmas trees daily, a majority of Americans who have had a real Christmas tree (67%) say they typically water them three times per week or less. Fewer than 1 in 5 U.S. residents who have had a real Christmas tree (17%) typically water it daily or more often.

The stocks have a year to date performance of 10.87 percent and weekly performance of 5.03 percent. The stock has been moved at 8.75 percent over the last six months. The stock has performed -3.85 percent around the most recent 30 days and changed 14.20 percent over the most recent 3-months.

If compared to the average trading volume of 314.42K shares, SIGI reached to a volume of 141577 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Selective Insurance Group Inc. [SIGI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SIGI shares is $93.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SIGI stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Janney have made an estimate for Selective Insurance Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 11, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on June 27, 2022, representing the official price target for Selective Insurance Group Inc. stock. Previously, the target price had yet another raise to $91, while Wolfe Research analysts kept a Outperform rating on SIGI stock.

The Average True Range (ATR) for Selective Insurance Group Inc. is set at 2.16, with the Price to Sales ratio for SIGI stock in the period of the last 12 months amounting to 1.55. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for SIGI in the course of the last twelve months was 8.79.

SIGI stock trade performance evaluation

Selective Insurance Group Inc. [SIGI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.03. With this latest performance, SIGI shares dropped by -3.85% in over the last four-week period, additionally plugging by 8.75% over the last 6 months – not to mention a rise of 14.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SIGI stock in for the last two-week period is set at 50.09, with the RSI for the last a single of trading hit 52.20, and the three-weeks RSI is set at 50.25 for Selective Insurance Group Inc. [SIGI]. The present Moving Average for the last 50 days of trading for this stock 92.24, while it was recorded at 90.11 for the last single week of trading, and 84.81 for the last 200 days.

Selective Insurance Group Inc. [SIGI]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Selective Insurance Group Inc. [SIGI] shares currently have an operating margin of +15.99. Selective Insurance Group Inc.’s Net Margin is presently recorded at +11.93.

Return on Equity for this stock inclined to 14.12, with Return on Assets sitting at 4.27.

Earnings per share (EPS) analysis for Selective Insurance Group Inc. [SIGI] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SIGI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Selective Insurance Group Inc. go to 13.40%.

Selective Insurance Group Inc. [SIGI]: Insider Ownership positions

There are presently around $4,664 million, or 86.50% of SIGI stock, in the hands of institutional investors. The top three institutional holders of SIGI stocks are: BLACKROCK INC. with ownership of 7,313,431, which is approximately 1.716% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 5,888,257 shares of the stock with an approximate value of $534.95 million in SIGI stocks shares; and T. ROWE PRICE INVESTMENT MANAGEMENT, INC., currently with $247.35 million in SIGI stock with ownership of nearly New of the company’s market capitalization.

Positions in Selective Insurance Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 108 institutional holders increased their position in Selective Insurance Group Inc. [NASDAQ:SIGI] by around 6,111,445 shares. Additionally, 124 investors decreased positions by around 5,709,546 shares, while 40 investors held positions by with 39,520,227 shares. The mentioned changes placed institutional holdings at 51,341,218 shares, according to the latest SEC report filing. SIGI stock had 29 new institutional investments in for a total of 3,572,422 shares, while 23 institutional investors sold positions of 213,410 shares during the same period.

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