Selective Insurance Group (NASDAQ:SIGI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Selective Insurance Group (NASDAQ:SIGI) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $101.00 to $102.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 7.61% from the company’s current price.

Other analysts have also recently issued reports about the company. Oppenheimer raised their price target on Selective Insurance Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Royal Bank Of Canada upped their price objective on Selective Insurance Group from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. BMO Capital Markets cut Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $97.00 price objective for the company. in a research report on Tuesday. Piper Sandler raised their target price on Selective Insurance Group from $93.00 to $103.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $100.33.

Selective Insurance Group Trading Up 0.1%

NASDAQ SIGI opened at $94.79 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.65 billion, a P/E ratio of 11.76 and a beta of 0.29. Selective Insurance Group has a 52-week low of $72.78 and a 52-week high of $100.40. The firm has a 50-day moving average price of $93.61 and a 200 day moving average price of $86.22.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.29. Selective Insurance Group had a return on equity of 14.51% and a net margin of 9.10%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the company earned $1.31 EPS. Equities research analysts expect that Selective Insurance Group will post 7.98 EPS for the current year.

Insider Buying and Selling at Selective Insurance Group

In related news, EVP Michael H. Lanza sold 17,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $94.04, for a total value of $1,608,084.00. Following the sale, the executive vice president owned 16,565 shares in the company, valued at $1,557,772.60. This represents a 50.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Selective Insurance Group

A number of institutional investors have recently bought and sold shares of SIGI. Eurizon Capital SGR S.p.A. purchased a new position in shares of Selective Insurance Group in the fourth quarter valued at $25,000. Los Angeles Capital Management LLC purchased a new stake in shares of Selective Insurance Group in the 4th quarter worth about $25,000. Amundi boosted its position in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. First Horizon Corp grew its stake in Selective Insurance Group by 52.8% in the 4th quarter. First Horizon Corp now owns 550 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 190 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in Selective Insurance Group by 177.5% in the 4th quarter. IFP Advisors Inc now owns 591 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 378 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.