JMP Securities Reaffirms Market Perform Rating for Selective Insurance Group (NASDAQ:SIGI)

Selective Insurance Group (NASDAQ:SIGI - Get Free Report)'s stock had its "market perform" rating restated by equities research analysts at JMP Securities in a report released on Thursday,Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley initiated coverage on Selective Insurance Group in a research report on Thursday, December 5th. They set an "equal weight" rating and a $105.00 price target on the stock. BMO Capital Markets raised Selective Insurance Group from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Royal Bank of Canada increased their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. Finally, Bank of America boosted their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $102.00.

Selective Insurance Group Price Performance

Shares of SIGI traded down $1.21 during trading hours on Thursday, reaching $82.92. 280,286 shares of the company's stock traded hands, compared to its average volume of 392,692. 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. The stock has a market cap of $5.04 billion, a PE ratio of 25.77 and a beta of 0.62. The firm's 50 day simple moving average is $94.65 and its 200-day simple moving average is $92.77.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Equities analysts expect that Selective Insurance Group will post 7.77 EPS for the current year.

Institutional Investors Weigh In On Selective Insurance Group

A number of large investors have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Selective Insurance Group in the fourth quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of Selective Insurance Group during the 3rd quarter valued at about $27,000. UMB Bank n.a. increased its position in shares of Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after buying an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock worth $42,000 after buying an additional 402 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Selective Insurance Group in the second quarter worth about $44,000. 82.88% of the stock is currently owned by 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.