Selective Insurance price target lowered to $106 from $112 at Piper Sandler

Piper Sandler lowered the firm’s price target on Selective Insurance to $106 from $112 and keeps a Neutral rating on the shares. The analyst thinks the Q3 reports for the insurance sector will be similar to Q2. It will be a mixed quarter with some positives and some negatives, the analyst tells investors in a research note. The firm believes he main bullish points will be continued pricing acceleration in both commercial and personal lines, while the main negative may be personal lines continuing to be unprofitable.