In a report released yesterday, Meyer Shields from KBW maintained a Hold rating on Selective Insurance Group (SIGI – Research Report), with a price target of $109.00. The company’s shares closed yesterday at $99.15.
Shields covers the Financial sector, focusing on stocks such as Allstate, Aon, and Axis Capital. According to TipRanks, Shields has an average return of 12.0% and a 71.59% success rate on recommended stocks.
In addition to KBW, Selective Insurance Group also received a Hold from Piper Sandler’s Paul Newsome in a report issued on February 1. However, on the same day, Oppenheimer maintained a Buy rating on Selective Insurance Group (NASDAQ: SIGI).
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Based on Selective Insurance Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.08 billion and a net profit of $89.21 million. In comparison, last year the company earned a revenue of $895.02 million and had a net profit of $42.53 million
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock.
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Selective Insurance Group (SIGI) Company Description:
Selective Insurance Group, Inc. provides property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The Standard Commercial Lines segment offers insurance products and services to commercial customers, such as non-profit organizations and local government agencies. The Standard Personal Lines segment comprises of insurance products and services, including flood insurance coverage. The E&S Lines segment includes insurance products and services provided to customers who are not obtained coverage in the standard marketplace. The Investments segment invests the premiums collected by various segments; and engages in the issuance of debt and equity securities. Selective Insurance Group was founded by Daniel L. B. Smith in 1926 and is headquartered in Branchville, NJ.
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