Selective Insurance Group (NASDAQ:SIGI – Get Rating) is scheduled to be releasing its earnings data after the market closes on Thursday, February 2nd. Analysts expect Selective Insurance Group to post earnings of $1.40 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
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Selective Insurance Group (NASDAQ:SIGI – Get Rating) last released its earnings results on Wednesday, November 2nd. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.17). Selective Insurance Group had a net margin of 6.76% and a return on equity of 12.79%. The business had revenue of $920.70 million for the quarter, compared to analysts’ expectations of $908.21 million. On average, analysts expect Selective Insurance Group to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Selective Insurance Group Price Performance
SIGI stock opened at $93.51 on Thursday. The firm has a 50 day moving average price of $91.58 and a 200-day moving average price of $86.97. Selective Insurance Group has a 52-week low of $66.81 and a 52-week high of $98.80. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.15 and a beta of 0.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30.
Selective Insurance Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.28. Selective Insurance Group’s dividend payout ratio (DPR) is 32.00%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on SIGI. Piper Sandler raised their price target on shares of Selective Insurance Group from $88.00 to $91.00 in a research report on Tuesday, January 10th. Morgan Stanley raised their price target on shares of Selective Insurance Group from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. StockNews.com began coverage on shares of Selective Insurance Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Janney Montgomery Scott began coverage on shares of Selective Insurance Group in a research report on Friday, November 11th. They set a “neutral” rating and a $96.00 price target for the company. Finally, BMO Capital Markets assumed coverage on shares of Selective Insurance Group in a research report on Thursday, January 19th. They set a “market perform” rating and a $90.00 price target for the company.
Insiders Place Their Bets
In other Selective Insurance Group news, Director John Burville sold 2,652 shares of Selective Insurance Group stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares of the company’s stock, valued at approximately $7,990,152.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Selective Insurance Group news, Director John Burville sold 2,652 shares of Selective Insurance Group stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares of the company’s stock, valued at approximately $7,990,152.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brenda M. Hall sold 2,813 shares of Selective Insurance Group stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $95.11, for a total transaction of $267,544.43. Following the completion of the sale, the chief operating officer now directly owns 18,650 shares of the company’s stock, valued at approximately $1,773,801.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,734 shares of company stock valued at $825,796. Company insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of SIGI. Covestor Ltd boosted its stake in shares of Selective Insurance Group by 37.3% during the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 203 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter worth $201,000. Proficio Capital Partners LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter worth $230,000. Verition Fund Management LLC boosted its stake in shares of Selective Insurance Group by 7.9% during the 1st quarter. Verition Fund Management LLC now owns 2,780 shares of the insurance provider’s stock worth $248,000 after acquiring an additional 204 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in shares of Selective Insurance Group during the 3rd quarter worth $284,000. Hedge funds and other institutional investors own 83.85% of the company’s stock.
About Selective Insurance Group
Selective Insurance Group, Inc provides property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The Standard Commercial Lines segment offers insurance products and services to commercial customers, such as non-profit organizations and local government agencies.
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