Selective Insurance gains after Q3 results
BUZZ-Selective Insurance gains after Q3 results ** Shares of Selective Insurance Group SIGI.O rise 6% to $97.4
** After Thursday's market close, co posted Q3 adj operating income of $141.7 million or $2.37 per share in the three months ended September 30, compared with $106.7 million, or $1.75 per share, a year earlier
** Short Hills, New Jersey-based co's combined ratio improves 1.8 points year on year to 96.8%
** Brokerage Piper Sandler raises PT to $99 from $97, representing about 8% upside to the stock's last close
** "The company continues to shrink its book to improve profitability but at a faster pace than we had expected," - Piper Sandler
** Two of nine analysts rate stock "strong buy" or "buy", six "hold" and one "sell"; their median PT is $99 - data compiled by LSEG
** Including session's moves, stock up 15.3% YTD
(Reporting by Pragyan Kalita in Bengaluru)
Recent news on Selective Insurance
See all newsUS STOCKS ON THE MOVE-Huron Consulting, RingCentral, Selective Insurance
Selective Insurance gains after Q3 results
Selective Insurance Group, Inc. reports results for the quarter ended September 30 - Earnings Summary
Selective Insurance Q3 net income rises on improved underwriting performance
Brief: Selective Insurance Group Names Jacob E. Rothfuss Executive Vice President And President, Standard Lines