Selective Insurance Group (NASDAQ:SIGI) PT Raised to $99.00

Selective Insurance Group (NASDAQ:SIGI) had its price objective hoisted by research analysts at Royal Bank of Canada from $96.00 to $99.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 5.80% from the stock’s previous close.

Several other equities analysts have also commented on the company. Bank of America increased their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday. BMO Capital Markets increased their price objective on Selective Insurance Group from $92.00 to $95.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Piper Sandler decreased their target price on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Selective Insurance Group presently has a consensus rating of “Hold” and an average price target of $100.00.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock opened at $93.57 on Wednesday. The business has a 50-day simple moving average of $91.80 and a 200-day simple moving average of $93.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.32 and a current ratio of 0.35. Selective Insurance Group has a one year low of $81.00 and a one year high of $109.58. The company has a market cap of $5.69 billion, a PE ratio of 25.22, a P/E/G ratio of 1.57 and a beta of 0.56.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm earned $1.51 EPS. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Selective Insurance Group will post 3.76 EPS for the current fiscal year.

Institutional Trading of Selective Insurance Group

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in Selective Insurance Group during the 3rd quarter valued at approximately $27,000. Quest Partners LLC purchased a new stake in shares of Selective Insurance Group during the second quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in shares of Selective Insurance Group by 81.5% during the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Selective Insurance Group during the first quarter worth $48,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Selective Insurance Group in the 2nd quarter valued at $44,000. 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.