Selective Insurance Group (NASDAQ:SIGI) Given New $87.00 Price Target at Morgan Stanley

Selective Insurance Group (NASDAQ:SIGI) had its price objective reduced by research analysts at Morgan Stanley from $95.00 to $87.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target suggests a potential upside of 4.19% from the company’s current price.

A number of other research firms have also weighed in on SIGI. Keefe, Bruyette & Woods increased their price objective on shares of Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Royal Bank of Canada increased their price objective on shares of 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. Bank of America raised their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Selective Insurance Group currently has a consensus rating of “Hold” and an average price target of $102.00.

Selective Insurance Group Trading Down 0.7 %

Shares of NASDAQ:SIGI traded down $0.63 during trading on Monday, reaching $83.50. The company’s stock had a trading volume of 56,991 shares, compared to its average volume of 382,103. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. Selective Insurance Group has a 12 month low of $80.84 and a 12 month high of $109.58. The firm’s 50 day simple moving average is $94.65 and its two-hundred day simple moving average is $92.77. The stock has a market capitalization of $5.08 billion, a PE ratio of 25.91 and a beta of 0.61.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share 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 predict that Selective Insurance Group will post 7.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Selective Insurance Group

Institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Selective Insurance Group in the fourth quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Selective Insurance Group in the third quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in Selective Insurance Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 116 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 valued at $42,000 after acquiring an additional 402 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Selective Insurance Group in the second quarter valued at approximately $44,000. 82.88% of the stock is owned by hedge funds and other 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.