Selective Insurance Group (NASDAQ:SIGI) Price Target Raised to $101.00 at Keefe, Bruyette & Woods

Selective Insurance Group (NASDAQ:SIGI) had its price objective lifted by equities researchers at Keefe, Bruyette & Woods from $88.00 to $101.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 3.06% from the stock’s current price.

SIGI has been the subject of several other reports. Morgan Stanley boosted their price objective on Selective Insurance Group from $72.00 to $80.00 and gave the company an “underweight” rating in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Thursday, June 18th. Oppenheimer increased their target price on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $84.00 to $97.00 in a report on Thursday, May 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Selective Insurance Group in a research report on Monday, March 23rd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Selective Insurance Group currently has a consensus rating of “Hold” and a consensus target price of $95.17.

Selective Insurance Group Trading Up 0.0%

SIGI traded up $0.01 during midday trading on Wednesday, hitting $98.00. The company’s stock had a trading volume of 98,199 shares, compared to its average volume of 571,143. Selective Insurance Group has a 52-week low of $71.75 and a 52-week high of $100.40. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $90.12 and a two-hundred day moving average price of $84.78. The firm has a market cap of $5.87 billion, a P/E ratio of 13.40 and a beta of 0.29.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business earned $1.76 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, research analysts anticipate that Selective Insurance Group will post 7.81 earnings per share for the current year.

Institutional Investors Weigh In On Selective Insurance Group

Several institutional investors have recently bought and sold shares of SIGI. Eurizon Capital SGR S.p.A. acquired a new position in Selective Insurance Group during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in shares of Selective Insurance Group in the 4th quarter worth approximately $25,000. True Wealth Design LLC boosted its holdings in shares of Selective Insurance Group by 45.9% in the fourth quarter. True Wealth Design LLC now owns 410 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Amundi boosted its holdings in shares of Selective Insurance Group by 398.7% in the first quarter. Amundi now owns 389 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 311 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Selective Insurance Group by 38.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 555 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

About Selective Insurance Group

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.