Selective Insurance Group (NASDAQ:SIGI) Earns "Market Perform" Rating from Keefe, Bruyette & Woods

Selective Insurance Group (NASDAQ:SIGI - Get Free Report)'s stock had its "market perform" rating reiterated by equities researchers at Keefe, Bruyette & Woods in a note issued to investors on Friday, Marketbeat reports. They currently have a $93.00 price objective on the insurance provider's stock, down from their previous price objective of $116.00. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 10.21% from the company's previous close.

A number of other equities research analysts also recently commented on SIGI. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the stock an "underperform" rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their target price on Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered their price objective on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Selective Insurance Group currently has an average rating of "Hold" and an average price target of $98.71.

Selective Insurance Group Stock Up 0.0 %

Shares of NASDAQ:SIGI traded up $0.04 during midday trading on Friday, reaching $84.39. The company's stock had a trading volume of 115,880 shares, compared to its average volume of 409,164. Selective Insurance Group has a 12-month low of $80.84 and a 12-month high of $109.58. The firm has a market capitalization of $5.13 billion, a P/E ratio of 26.21 and a beta of 0.61. The firm has a 50 day moving average of $92.69 and a 200-day moving average of $92.62. 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 - Get Free Report) last released its 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, research analysts anticipate that Selective Insurance Group will post 7.64 earnings per share for the current year.

Institutional Trading of Selective Insurance Group

Institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in Selective Insurance Group by 28.6% in the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider's stock valued at $510,239,000 after buying an additional 1,216,801 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Selective Insurance Group during the fourth quarter worth $69,504,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Selective Insurance Group in the 3rd quarter valued at about $37,726,000. Eagle Asset Management Inc. lifted its holdings in Selective Insurance Group by 112.7% during the third quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider's stock valued at $42,667,000 after purchasing an additional 226,387 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Selective Insurance Group in the 4th quarter valued at $203,000. 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.