Selective Insurance Group, Inc. (NASDAQ:SIGI) Plans Quarterly Dividend of $0.38

by · The Markets Daily

Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) announced a quarterly dividend on Monday, October 21st, RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.38 per share by the insurance provider on Monday, December 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 1.57%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35.

Selective Insurance Group has raised its dividend payment by an average of 10.0% annually over the last three years. Selective Insurance Group has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Selective Insurance Group to earn $7.83 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.9%.

Selective Insurance Group Stock Performance

Selective Insurance Group stock traded down $1.71 during midday trading on Monday, reaching $96.97. The stock had a trading volume of 849,836 shares, compared to its average volume of 347,426. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $5.90 billion, a PE ratio of 26.96, a P/E/G ratio of 1.62 and a beta of 0.56. Selective Insurance Group has a 12 month low of $81.00 and a 12 month high of $109.58. The firm’s 50-day moving average price is $91.17 and its 200 day moving average price is $93.81.

Selective Insurance Group (NASDAQ:SIGI – Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. As a group, research analysts predict that Selective Insurance Group will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SIGI has been the topic of a number of analyst reports. Piper Sandler decreased their price objective on 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. BMO Capital Markets increased 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 report on Wednesday, July 24th. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $104.00 to $99.00 in a research note on Monday, July 22nd. Finally, Royal Bank of Canada cut their price target on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned 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 $98.50.

View Our Latest Stock Analysis on Selective Insurance Group

Insider Buying and Selling at Selective Insurance Group

In related news, Director Terrence W. Cavanaugh acquired 2,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average price of $85.85 per share, for a total transaction of $171,700.00. Following the transaction, the director now owns 20,651 shares in the company, valued at $1,772,888.35. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

About Selective Insurance Group

(Get Free Report)

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.

Recommended Stories