Selective Insurance Group (NASDAQ:SIGI) Announces Earnings Results

Selective Insurance Group (NASDAQ:SIGI) posted its quarterly earnings results on Monday. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29), Briefing.com reports. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business posted $1.51 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year.

Selective Insurance Group Stock Performance

SIGI stock opened at $95.31 on Thursday. The stock’s 50 day simple moving average is $91.71 and its 200 day simple moving average is $93.69. The company has a current ratio of 0.35, a quick ratio of 0.32 and a debt-to-equity ratio of 0.17. Selective Insurance Group has a 12-month low of $81.00 and a 12-month high of $109.58. The stock has a market capitalization of $5.80 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.57 and a beta of 0.56.

Selective Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.59%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s dividend payout ratio (DPR) is 37.74%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SIGI shares. BMO Capital Markets boosted their price target on shares of Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada increased their target price on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday. Bank of America boosted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday. Piper Sandler decreased their target price on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $100.00.

Selective Insurance Group Company Profile

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.