RBC Capital analyst Scott Heleniak maintains $Selective Insurance (SIGI.US)$ with a hold rating, and adjusts the target price from $96 to $99.
According to TipRanks data, the analyst has a success rate of 91.2% and a total average return of 22.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Selective Insurance (SIGI.US)$'s main analysts recently are as follows:
The firm's projections for Selective Insurance's earnings per share have slightly increased due to greater investment income. However, it is anticipated that the company's stock may face challenges in reclaiming its traditional premium in the short term because of the lingering concerns over its recent reserving practices.
Selective Insurance's Q3 outcomes revealed signs of stabilization in comparison to previous quarters, hinting at a more effectively positioned reserving on business written more recently. The company witnessed improvement in core margins across all three segments, with a portion of this enhancement stemming from reduced non-catastrophe property losses.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
