Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating ) announced a quarterly dividend on Wednesday, August 3rd, Zacks reports. Investors of record on Monday, August 15th will be paid a dividend of 0.28 per share by the insurance provider on Thursday, September 1st. This represents an annualized dividend of $1.12 and a yield of 1.45%. The ex-dividend date of this dividend is Friday, August 12th.
Selective Insurance Group has a payout ratio of 17.5%, meaning its dividend is sufficiently covered by earnings. Analysts expect Selective Insurance Group to earn $6.51 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.2%.
Shares of Selective Insurance Group rose 2.0%
NASDAQ:SIGI traded up $1.50 during mid-day trading on Friday, reaching $77.20. The company’s stock had a trading volume of 3,242 shares, compared to its average volume of 397,551. Selective Insurance Group has a 1-year low of $66.81 and a 1-year high of $94.35. The stock has a fifty day moving average of $80.99 and a 200 day moving average of $81.70. The firm has a market cap of $4.66 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 3.88 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.
Selective Insurance Group (NASDAQ:SIGI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.38 by $0.03. The business had revenue of $846.10 million during the quarter, compared to analyst estimates of $883.09 million. Selective Insurance Group had a net margin of 7.73% and a return on equity of 12.26%. The company’s quarterly revenue was up 5.2% year over year. During the same period in the previous year, the firm reported earnings of $1.70 per share. equities analysts predict that Selective Insurance Group will post 5.59 earnings per share for the current year.
Promote and demote an analyst
Separately, Morgan Stanley assumed coverage on shares of Selective Insurance Group in a research report on Monday, June 27th. They set an “overweight” rating and a $98.00 target price for the company.
Selective Insurance Group Institutional Trading
Several hedge funds have recently modified their holdings of SIGI. Jane Street Group LLC raised its position in shares of Selective Insurance Group by 46.8% in the first quarter. Jane Street Group LLC now owns 8,264 shares of the insurance provider’s stock valued at $738,000 after purchasing an additional 2,635 shares in the last quarter. Eaton Vance Management lifted its position in shares of Selective Insurance Group by 27.0% in the first quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider’s stock valued at $89,256,000 after purchasing an additional 212,085 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Selective Insurance Group by 48.0% in the first quarter. Guggenheim Capital LLC now owns 5,021 shares of the insurance provider’s stock valued at $448,000 after buying an additional 1,629 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Selective Insurance Group by 3.2% in the first quarter. Goldman Sachs Group Inc. now owns 859,367 shares of the insurance provider’s stock valued at $76,793,000 after purchasing an additional 26,553 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Selective Insurance Group by 32.9% in the first quarter. Captrust Financial Advisors now owns 6,514 shares of the insurance provider’s stock valued at $582,000 after buying an additional 1,613 shares during the last quarter. 81.37% of the shares are owned by hedge funds and other institutional investors.
Company Profile of Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The company offers property insurance products that cover the financial consequences of accidental loss of real estate, personal property and/or earnings of the insured due to loss of property; and accident insurance products that cover the financial consequences of on-the-job injuries to employees and third-party bodily injury and/or property damage, as well as flood insurance products.
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