Selective Insurance Group (NASDAQ:SIGI) Price Target Lowered to $84.00 at Keefe, Bruyette & Woods

Selective Insurance Group (NASDAQ:SIGI) had its price target dropped by analysts at Keefe, Bruyette & Woods from $92.00 to $84.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 6.07% from the stock’s previous close.

SIGI has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price objective on shares of Selective Insurance Group in a research report on Monday, March 23rd. Finally, Piper Sandler lifted their target price on Selective Insurance Group from $79.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and an average target price of $83.60.

Selective Insurance Group Stock Performance

NASDAQ:SIGI traded up $1.48 during midday trading on Tuesday, hitting $79.19. The company’s stock had a trading volume of 224,286 shares, compared to its average volume of 563,569. Selective Insurance Group has a fifty-two week low of $71.75 and a fifty-two week high of $93.38. The firm’s 50 day moving average is $81.17 and its 200-day moving average is $80.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $4.74 billion, a P/E ratio of 10.57 and a beta of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Thursday, January 29th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.33. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $1.62 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Selective Insurance Group will post 7.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. AGF Management Ltd. acquired a new stake in Selective Insurance Group in the third quarter valued at $3,448,000. American Century Companies Inc. boosted its stake in shares of Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after acquiring an additional 280,395 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Selective Insurance Group during the second quarter valued at $20,108,000. Vest Financial LLC purchased a new position in Selective Insurance Group during the third quarter worth about $1,480,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Selective Insurance Group during the third quarter worth about $5,082,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.