The stock price of Selective Insurance Group Inc. (NASDAQ: SIGI) has dropped by -0.54 compared to previous close of 103.70. Despite this, the company has seen a gain of 2.73% in its stock price over the last five trading days. PRNewsWire reported 2024-04-03 that BRANCHVILLE, N.J., April 3, 2024 /PRNewswire/ — Selective Insurance Group, Inc. (Nasdaq: SIGI) will announce its first quarter financial results on Wednesday, May 1, 2024, after market close.
Is It Worth Investing in Selective Insurance Group Inc. (NASDAQ: SIGI) Right Now?
The price-to-earnings ratio for Selective Insurance Group Inc. (NASDAQ: SIGI) is above average at 17.66x. The 36-month beta value for SIGI is also noteworthy at 0.54. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 6 rating it as “hold,” and 0 rating it as “sell.”
The public float for SIGI is 60.10M, and at present, short sellers hold a 1.71% of that float. The average trading volume of SIGI on April 25, 2024 was 328.11K shares.
SIGI’s Market Performance
The stock of Selective Insurance Group Inc. (SIGI) has seen a 2.73% increase in the past week, with a -0.52% drop in the past month, and a -3.65% fall in the past quarter. The volatility ratio for the week is 1.71%, and the volatility levels for the past 30 days are at 1.83% for SIGI. The simple moving average for the past 20 days is -0.70% for SIGI’s stock, with a 0.91% simple moving average for the past 200 days.
Analysts’ Opinion of SIGI
Many brokerage firms have already submitted their reports for SIGI stocks, with Oppenheimer repeating the rating for SIGI by listing it as a “Outperform.” The predicted price for SIGI in the upcoming period, according to Oppenheimer is $120 based on the research report published on November 16, 2023 of the previous year 2023.
BofA Securities, on the other hand, stated in their research note that they expect to see SIGI reach a price target of $97, previously predicting the price at $101. The rating they have provided for SIGI stocks is “Underperform” according to the report published on May 18th, 2023.
BMO Capital Markets gave a rating of “Market Perform” to SIGI, setting the target price at $90 in the report published on January 20th of the previous year.
SIGI Trading at -0.48% from the 50-Day Moving Average
After a stumble in the market that brought SIGI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.88% of loss for the given period.
Volatility was left at 1.83%, however, over the last 30 days, the volatility rate increased by 1.71%, as shares sank -2.09% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.19% upper at present.
During the last 5 trading sessions, SIGI rose by +2.73%, which changed the moving average for the period of 200-days by +9.12% in comparison to the 20-day moving average, which settled at $103.75. In addition, Selective Insurance Group Inc. saw 3.68% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SIGI starting from Hall Brenda M, who sale 2,626 shares at the price of $105.88 back on Mar 04 ’24. After this action, Hall Brenda M now owns 10,511 shares of Selective Insurance Group Inc., valued at $278,034 using the latest closing price.
DOHERTY ROBERT KELLY, the Director of Selective Insurance Group Inc., sale 2,900 shares at $104.69 during a trade that took place back on Feb 16 ’24, which means that DOHERTY ROBERT KELLY is holding 21,515 shares at $303,603 based on the most recent closing price.
Stock Fundamentals for SIGI
Current profitability levels for the company are sitting at:
- 0.11 for the present operating margin
- 0.98 for the gross margin
The net margin for Selective Insurance Group Inc. stands at 0.09. The total capital return value is set at 0.06. Equity return is now at value 13.33, with 3.47 for asset returns.
Based on Selective Insurance Group Inc. (SIGI), the company’s capital structure generated 0.15 points at debt to capital in total, while cash flow to debt ratio is standing at 1.47. The debt to equity ratio resting at 0.17. The interest coverage ratio of the stock is 15.62.
Currently, EBITDA for the company is 40.66 million with net debt to EBITDA at 1.08. When we switch over and look at the enterprise to sales, we see a ratio of 1.6. The receivables turnover for the company is 2.15for trailing twelve months and the total asset turnover is 0.36. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.46.
Conclusion
In summary, Selective Insurance Group Inc. (SIGI) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
