Selective Insurance Group’s (SIGI) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Selective Insurance Group (NASDAQ:SIGI)‘s stock had its “market perform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They presently have a $93.00 price target on the insurance provider’s stock, down from their previous price target of $116.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.56% from the stock’s previous close.

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

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $85.67 on Friday. The firm’s 50 day moving average is $93.35 and its 200 day moving average is $92.56. The stock has a market capitalization 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 company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results 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 return on equity of 7.33% and a net margin of 4.26%. On average, sell-side analysts anticipate that Selective Insurance Group will post 7.77 earnings per share for the current year.

Hedge Funds Weigh In On Selective Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new stake in Selective Insurance Group in the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of Selective Insurance Group during the third quarter worth approximately $27,000. UMB Bank n.a. lifted its holdings in shares of Selective Insurance Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Selective Insurance Group by 957.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 402 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Selective Insurance Group by 64.4% during the 4th quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 190 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

About Selective Insurance Group

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.