Morgan Stanley Has Lowered Expectations for Selective Insurance Group (NASDAQ:SIGI) Stock Price

Selective Insurance Group (NASDAQ:SIGI) had its price target reduced by equities research analysts at Morgan Stanley from $95.00 to $87.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.20% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday, October 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Thursday, January 30th. Royal Bank of Canada upped their price objective 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. Keefe, Bruyette & Woods boosted their price target on Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $102.00.

Selective Insurance Group Stock Up 0.9 %

Shares of NASDAQ:SIGI opened at $83.49 on Monday. The company has a market capitalization of $5.08 billion, a P/E ratio of 25.93 and a beta of 0.61. The stock’s fifty day simple moving average is $94.00 and its 200-day simple moving average is $92.66. Selective Insurance Group has a 52-week low of $80.84 and a 52-week high of $109.58. 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 issued 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%. As a group, equities research analysts forecast that Selective Insurance Group will post 7.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Barclays PLC raised its position in shares of Selective Insurance Group by 171.6% in the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider’s stock valued at $10,711,000 after purchasing an additional 72,530 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Selective Insurance Group by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider’s stock valued at $37,801,000 after buying an additional 7,563 shares during the last quarter. Quest Partners LLC lifted its holdings in Selective Insurance Group by 2,486.8% during the 3rd quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock worth $712,000 after buying an additional 7,336 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider’s stock worth $603,000 after acquiring an additional 1,747 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Selective Insurance Group by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock valued at $80,956,000 after acquiring an additional 21,374 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

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.