Selective Insurance Group (NASDAQ:SIGI) Posts Earnings Results

Selective Insurance Group (NASDAQ:SIGI) issued its quarterly earnings results on Monday. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29), Briefing.com reports. Selective Insurance Group had a return on equity of 8.75% and a net margin of 5.12%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.51 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis.

Selective Insurance Group Stock Down 1.7 %

Selective Insurance Group stock traded down $1.71 during mid-day trading on Monday, hitting $96.97. The company’s stock had a trading volume of 850,150 shares, compared to its average volume of 347,426. Selective Insurance Group has a 52-week low of $81.00 and a 52-week high of $109.58. The company has a market cap of $5.90 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s 50 day moving average is $91.17 and its 200 day moving average is $93.81.

Selective Insurance Group Increases Dividend

The firm 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. This represents a $1.52 annualized dividend 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’s payout ratio is presently 38.25%.

Insider Buying and Selling at Selective Insurance Group

In related news, Director Terrence W. Cavanaugh purchased 2,000 shares of Selective Insurance Group stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $85.85 per share, with a total value of $171,700.00. Following the completion of the transaction, the director now directly owns 20,651 shares of the company’s stock, valued at $1,772,888.35. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SIGI has been the subject of a number of research analyst reports. BMO Capital Markets upped their target price on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $104.00 to $99.00 in a report on Monday, July 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their price target on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America upped their target price on Selective Insurance Group from $89.00 to $96.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.50.

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.