Selective Insurance Group (NASDAQ:SIGI) Issues Quarterly Earnings Results

Selective Insurance Group (NASDAQ:SIGI) released its quarterly earnings results on Wednesday. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55), Briefing.com reports. Selective Insurance Group had a net margin of 8.02% and a return on equity of 14.06%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $1.44 earnings per share. Selective Insurance Group’s revenue for the quarter was up 16.5% compared to the same quarter last year.

Selective Insurance Group Stock Performance

Shares of SIGI opened at $95.77 on Friday. The firm has a 50-day moving average of $103.51 and a 200-day moving average of $102.70. Selective Insurance Group has a one year low of $91.99 and a one year high of $109.58. The company has a market cap of $5.82 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 24.74%.

Insider Activity

In other news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.88, for a total transaction of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares in the company, valued at approximately $1,112,904.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SIGI. Oppenheimer reissued an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Royal Bank of Canada cut their price objective on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Piper Sandler reiterated a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods cut their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $105.17.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.