Selective Insurance Group (NASDAQ:SIGI) Price Target Lowered to $87.00 at Morgan Stanley

Selective Insurance Group (NASDAQ:SIGI - Free Report) had its price objective trimmed by Morgan Stanley from $95.00 to $87.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider's stock.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Selective Insurance Group from $114.00 to $116.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Royal Bank of Canada boosted their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Bank of America boosted their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Finally, BMO Capital Markets upgraded Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Selective Insurance Group has an average rating of "Hold" and an average price target of $102.00.

Selective Insurance Group Trading Up 0.1 %

Shares of NASDAQ SIGI traded up $0.09 during trading hours on Monday, reaching $85.67. The stock had a trading volume of 343,699 shares, compared to its average volume of 412,062. 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 business's fifty day moving average price is $93.35 and its two-hundred day moving average price is $92.56. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 26.61 and a beta of 0.61. Selective Insurance Group has a 52-week low of $80.84 and a 52-week high of $109.58.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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%. Analysts expect that Selective Insurance Group will post 7.77 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.77%. Selective Insurance Group's dividend payout ratio (DPR) is presently 47.21%.

Institutional Trading of Selective Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Selective Insurance Group during the fourth quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group in the 3rd quarter valued at about $27,000. UMB Bank n.a. grew its holdings in Selective Insurance Group by 37.1% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock worth $40,000 after acquiring an additional 116 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Selective Insurance Group by 957.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 402 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Selective Insurance Group in the second quarter valued at approximately $44,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

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.