Selective Insurance Group (NASDAQ:SIGI) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) had its price objective increased by investment analysts at BMO Capital Markets from $92.00 to $96.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. BMO Capital Markets' price target points to a potential upside of 9.49% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $93.00 price target (down previously from $116.00) on shares of Selective Insurance Group in a report on Friday, February 7th. Finally, Morgan Stanley decreased their price objective on Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Selective Insurance Group has a consensus rating of "Hold" and a consensus price target of $93.50.

Selective Insurance Group Stock Performance

Shares of SIGI traded up $0.79 during trading hours on Tuesday, hitting $87.68. The stock had a trading volume of 335,269 shares, compared to its average volume of 382,072. The firm has a market capitalization of $5.33 billion, a PE ratio of 27.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.34. Selective Insurance Group has a 12 month low of $78.13 and a 12 month high of $103.56. The stock has a fifty day moving average price of $87.69 and a 200 day moving average price of $91.06.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $1.76 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.10). The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.30 billion. Selective Insurance Group had a net margin of 4.26% and a return on equity of 7.33%. Selective Insurance Group's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 EPS. Analysts anticipate that Selective Insurance Group will post 7.62 EPS for the current year.

Insider Activity at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,352 shares of Selective Insurance Group stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $87.06, for a total transaction of $117,705.12. Following the sale, the chief accounting officer now owns 15,946 shares in the company, valued at $1,388,258.76. This trade represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Selective Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of SIGI. Barclays PLC increased its holdings in shares of Selective Insurance Group by 171.6% in the third quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock worth $10,711,000 after purchasing an additional 72,530 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Selective Insurance Group by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 405,153 shares of the insurance provider's stock worth $37,801,000 after acquiring an additional 7,563 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Selective Insurance Group by 38.4% during the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock valued at $603,000 after acquiring an additional 1,747 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Selective Insurance Group by 151.9% in the fourth quarter. Sei Investments Co. now owns 83,562 shares of the insurance provider's stock valued at $7,815,000 after purchasing an additional 50,386 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in Selective Insurance Group by 8.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,055,321 shares of the insurance provider's stock worth $98,694,000 after purchasing an additional 84,341 shares during the last quarter. 82.88% of the stock is currently owned by 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.