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Selective Insurance gains after Q3 results

By Reuters News

** 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

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