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

Selective Insurance Group (NASDAQ:SIGI) had its price target decreased by Morgan Stanley from $95.00 to $87.00 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other research analysts have also recently weighed in on SIGI. Bank of America lifted their target price on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company 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 research note on Thursday, January 30th. Royal Bank of Canada lifted their target price on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their price target on Selective Insurance Group from $114.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.00.

Selective Insurance Group Stock Performance

NASDAQ:SIGI opened at $82.77 on Monday. The stock has a 50-day simple moving average of $94.33 and a two-hundred day simple moving average of $92.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.34. Selective Insurance Group has a 52-week low of $80.84 and a 52-week high of $109.58. The firm has a market capitalization of $5.03 billion, a PE ratio of 25.71 and a beta of 0.62.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Analysts forecast that Selective Insurance Group will post 7.77 EPS for the current year.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.84%. Selective Insurance Group’s dividend payout ratio (DPR) is 47.20%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SIGI. R Squared Ltd purchased a new position in shares of Selective Insurance Group in the 4th quarter worth $25,000. V Square Quantitative Management LLC purchased a new position in Selective Insurance Group in the third quarter worth about $27,000. UMB Bank n.a. increased its stake 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 last quarter. 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 purchasing an additional 402 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Selective Insurance Group in the 2nd quarter valued at approximately $44,000. 82.88% of the stock is 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.