Selective Insurance Group (NASDAQ:SIGI) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

Selective Insurance Group (NASDAQ:SIGI)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a report issued on Friday,Benzinga reports. They currently have a $93.00 target price on the insurance provider’s stock, down from their prior target price of $116.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.56% from the company’s current price.

Other research analysts have also issued reports about the company. Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Morgan Stanley reduced their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $98.71.

Selective Insurance Group Stock Up 0.1 %

Shares of NASDAQ:SIGI opened at $85.67 on Friday. The firm has a market cap of $5.21 billion, a P/E ratio of 26.61 and a beta of 0.61. Selective Insurance Group has a 12-month low of $80.84 and a 12-month high of $109.58. The business has a fifty day simple moving average of $93.35 and a 200 day simple moving average of $92.56. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Analysts predict that Selective Insurance Group will post 7.77 earnings per share for the current year.

Institutional Investors Weigh In On Selective Insurance Group

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Selective Insurance Group by 28.6% in the 3rd quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock worth $510,239,000 after buying an additional 1,216,801 shares during the last quarter. State Street Corp boosted its position in Selective Insurance Group by 3.1% in the third quarter. State Street Corp now owns 2,401,897 shares of the insurance provider’s stock worth $224,097,000 after purchasing an additional 71,296 shares during the last quarter. Geode Capital Management LLC grew its stake in Selective Insurance Group by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider’s stock valued at $148,048,000 after purchasing an additional 26,880 shares during the period. Boston Trust Walden Corp increased its position in shares of Selective Insurance Group by 8.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider’s stock valued at $98,694,000 after purchasing an additional 84,341 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Selective Insurance Group by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,230 shares of the insurance provider’s stock worth $82,693,000 after purchasing an additional 16,539 shares during the period. 82.88% of the stock is owned by institutional investors.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.