Keefe, Bruyette & Woods Lowers Selective Insurance Group (NASDAQ:SIGI) Price Target to $92.00

Selective Insurance Group (NASDAQ:SIGI) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $93.00 to $92.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 5.88% from the company’s current price.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, Morgan Stanley decreased their target price on shares of Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.50.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $86.89 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group has a twelve month low of $78.13 and a twelve month high of $103.56. The company has a fifty day moving average of $87.59 and a 200-day moving average of $91.16. The firm has a market capitalization of $5.28 billion, a P/E ratio of 26.98 and a beta of 0.45.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $1.76 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.10). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company posted $1.33 EPS. Selective Insurance Group’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Selective Insurance Group will post 7.62 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Anthony D. Harnett sold 1,352 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $87.06, for a total transaction of $117,705.12. Following the completion of the sale, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,388,258.76. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Selective Insurance Group in the 4th quarter worth about $25,000. Olde Wealth Management LLC purchased a new position in Selective Insurance Group in the first quarter valued at about $28,000. Quarry LP bought a new position in shares of Selective Insurance Group during the 4th quarter valued at approximately $38,000. UMB Bank n.a. increased its stake in shares of Selective Insurance Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 116 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $42,000 after purchasing an additional 402 shares during the period. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

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.