Analysts Set Selective Insurance Group, Inc. (NASDAQ:SIGI) Target Price at $81.60

by · The Markets Daily

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) have earned an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $81.60.

SIGI has been the topic of several research analyst reports. Morgan Stanley increased their price objective on Selective Insurance Group from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, November 17th. Zacks Research raised Selective Insurance Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. BMO Capital Markets lowered Selective Insurance Group from an “outperform” rating to a “market perform” rating and set a $81.00 price target on the stock. in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods lowered their price objective on shares of Selective Insurance Group from $82.00 to $81.00 and set a “market perform” rating for the company in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada assumed coverage on shares of Selective Insurance Group in a report on Monday, November 24th. They set an “outperform” rating and a $95.00 target price on the stock.

View Our Latest Analysis on SIGI

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $81.77 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 12.60 and a beta of 0.24. The firm has a 50-day moving average of $81.64 and a two-hundred day moving average of $80.49. Selective Insurance Group has a 1 year low of $71.75 and a 1 year high of $96.49.

Hedge Funds Weigh In On Selective Insurance Group

Several institutional investors have recently bought and sold shares of SIGI. AQR Capital Management LLC lifted its holdings in Selective Insurance Group by 174.6% during the second quarter. AQR Capital Management LLC now owns 1,593,645 shares of the insurance provider’s stock worth $137,340,000 after buying an additional 1,013,371 shares during the period. Norges Bank bought a new position in shares of Selective Insurance Group in the 2nd quarter worth $61,437,000. Franklin Resources Inc. lifted its stake in shares of Selective Insurance Group by 4,903.4% during the 2nd quarter. Franklin Resources Inc. now owns 347,933 shares of the insurance provider’s stock worth $30,148,000 after purchasing an additional 340,979 shares during the last quarter. American Century Companies Inc. boosted its position in Selective Insurance Group by 1,299.9% during the third quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after purchasing an additional 280,395 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Selective Insurance Group by 657.3% during the third quarter. First Trust Advisors LP now owns 305,629 shares of the insurance provider’s stock valued at $24,777,000 after purchasing an additional 265,270 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

About Selective Insurance Group

(Get Free Report)

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.

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