Keefe Bruyette & Woods Maintains Selective Insurance Group to Market Perform with Price Target $41.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Selective Insurance Group(NASDAQ:SIGI). In a research note issued to the investors, the brokerage major Raises the price-target to $41.00 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Aug 1, 2016.

In a different note, On May 4, 2016, Keefe Bruyette & Woods said it Assumes its rating on Selective Insurance Group. The shares have been rated ‘Market Perform’ by the firm.

Selective Insurance Group (SIGI) made into the market gainers list on Mondays trading session with the shares advancing 1.08% or 0.42 points. Due to strong positive momentum, the stock ended at $39.47, which is also near the day’s high of $39.49. The stock began the session at $38.98 and the volume stood at 1,36,325 shares. The 52-week high of the shares is $40.76 and the 52 week low is $28.22. The company has a current market capitalization of $2,282 M and it has 5,78,12,467 shares in outstanding.

Selective Insurance Group(SIGI) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $568.70M. Analysts had an estimated revenue of $569.42M. Earnings per share were $0.72. Analysts had estimated an EPS of $0.59.

Several Insider Transactions has been reported to the SEC. On Jul 15, 2016, Gregory E Murphy (Chairman & CEO) sold 8,334 shares at $39.42 per share price.Also, On Jun 7, 2016, Kelley Ronald L O (director) sold 3,332 shares at $37.12 per share price.On Jun 1, 2016, Paul D Bauer (director) sold 1,500 shares at $37.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Selective Insurance Group Inc. (the Parent) is a holding company with insurance subsidiaries. The Company operates its business through four reportable segments: Standard Commercial Lines Standard Personal Lines E&S Lines and Investments. Standard Commercial Lines consists of insurance products and services provided in the standard marketplace to its commercial customers. Standard Personal Lines consists of insurance products and services including flood insurance coverage that it writes through the National Flood Insurance Program (NFIP). E&S Lines consists of insurance products and services provided to customers who have not obtained coverage in the standard marketplace. It only writes commercial lines excess and surplus (E&S) coverages. Investments segment invests the premiums collected by its insurance segments as well as amounts generated through its capital management strategies which includes the issuance of debt and equity securities.

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