Selective Insurance Group’s (SIGI) Market Perform Rating Reiterated at JMP Securities

Selective Insurance Group (NASDAQ:SIGI)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports.

SIGI has been the subject of several other reports. 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 note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on Selective Insurance Group from $114.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Royal Bank of Canada upped their price target on Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. 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. Finally, Bank of America upped their target price on 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 equities 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.57.

Selective Insurance Group Trading Down 8.7 %

Shares of Selective Insurance Group stock opened at $85.84 on Thursday. Selective Insurance Group has a 1 year low of $81.00 and a 1 year high of $109.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $5.22 billion, a PE ratio of 23.45 and a beta of 0.62. The firm has a fifty day moving average price of $95.21 and a 200 day moving average price of $93.05.

Selective Insurance Group (NASDAQ:SIGI) last issued 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 8.11% and a net margin of 5.01%. Equities research analysts predict that Selective Insurance Group will post 3.63 earnings per share for the current year.

Institutional Trading of Selective Insurance Group

Large investors have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of Selective Insurance Group in the fourth quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in Selective Insurance Group in the 3rd quarter valued at about $27,000. UMB Bank n.a. grew its stake in shares of Selective Insurance Group by 37.1% in the 4th 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 increased its holdings in shares of Selective Insurance Group by 957.1% during the 4th 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 during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Selective Insurance Group during the 2nd quarter valued at approximately $44,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

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.