Selective Insurance Group (NASDAQ:SIGI) PT Raised to $99.00 at Royal Bank of Canada

Selective Insurance Group (NASDAQ:SIGI) had its price target upped by analysts at Royal Bank of Canada from $96.00 to $99.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 3.28% from the stock’s current price.

A number of other research firms also recently commented on SIGI. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $104.00 to $99.00 in a report on Monday, July 22nd. BMO Capital Markets upped their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Bank of America lifted their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research note on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, Piper Sandler lowered their price objective on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.00.

Selective Insurance Group Stock Performance

NASDAQ SIGI traded up $2.54 during trading on Wednesday, hitting $95.86. The company’s stock had a trading volume of 352,945 shares, compared to its average volume of 351,140. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.83 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The firm has a 50 day moving average price of $91.53 and a 200 day moving average price of $93.67.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts forecast that Selective Insurance Group will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Selective Insurance Group

Large investors have recently made changes to their positions in the company. Ballentine Partners LLC bought a new stake in shares of Selective Insurance Group during the first quarter worth $204,000. Procyon Advisors LLC raised its stake in shares of Selective Insurance Group by 16.7% in the 1st quarter. Procyon Advisors LLC now owns 12,875 shares of the insurance provider’s stock valued at $1,406,000 after purchasing an additional 1,839 shares during the period. Ausbil Investment Management Ltd lifted its holdings in shares of Selective Insurance Group by 14.6% in the first quarter. Ausbil Investment Management Ltd now owns 21,097 shares of the insurance provider’s stock valued at $2,255,000 after purchasing an additional 2,693 shares in the last quarter. AlphaMark Advisors LLC acquired a new position in shares of Selective Insurance Group during the first quarter worth about $334,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Selective Insurance Group by 27.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 578,501 shares of the insurance provider’s stock worth $63,155,000 after buying an additional 124,860 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.

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.