Selective Insurance price target lowered to $92 from $105 at BMO Capital

BMO Capital lowered the firm’s price target on Selective Insurance (SIGI) to $92 from $105 after its Q4 earnings miss but keeps an Outperform rating on the shares. The stock declined 13% due to a $75M charge, the company’s fourth casualty charge in five quarters, but the firm believes that the reserves of Selective Insurance are now be in great shape, the analyst tells investors in a research note.