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 given a dividend of 0.28 per share by the insurance provider on Thursday, September 1st. This represents a $1.12 dividend on an annualized basis 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%.
Selective Insurance Group Stock Up 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 capitalization 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 released its quarterly earnings results on Wednesday, May 4th. The insurance provider reported $1.41 EPS for the quarter, beating 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 earnings per share. Equities research analysts forecast that Selective Insurance Group will post 5.59 earnings per share for the current year.
Analyst Upgrades and Downgrades
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 price target for the company.
Institutional Trading of Selective Insurance Group
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 1st 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 during the last quarter. Eaton Vance Management raised its position in shares of Selective Insurance Group by 27.0% in the 1st 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 1st quarter. Guggenheim Capital LLC now owns 5,021 shares of the insurance provider's stock valued at $448,000 after purchasing an additional 1,629 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Selective Insurance Group by 3.2% in the 1st 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 raised its position in shares of Selective Insurance Group by 32.9% in the 1st quarter. Captrust Financial Advisors now owns 6,514 shares of the insurance provider's stock valued at $582,000 after purchasing an additional 1,613 shares during the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.
Selective Insurance Group Company Profile
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, which covers the financial consequences of accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and 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, as well as flood insurance products.
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