Selective Insurance Group, Inc. (NASDAQ:SIGI) Plans Quarterly Dividend of $0.35

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.35 per share by the insurance provider on Monday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, May 14th.

Selective Insurance Group has increased its dividend by an average of 10.0% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Selective Insurance Group has a payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Selective Insurance Group to earn $8.43 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 16.6%.

Selective Insurance Group Stock Up 0.7 %

Shares of NASDAQ:SIGI traded up $0.64 during mid-day trading on Friday, hitting $96.41. 644,921 shares of the company traded hands, compared to its average volume of 328,688. The firm has a market cap of $5.86 billion, a P/E ratio of 16.92, a PEG ratio of 0.75 and a beta of 0.55. Selective Insurance Group has a 52-week low of $91.99 and a 52-week high of $109.58. The firm's 50 day simple moving average is $103.51 and its 200 day simple moving average is $102.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.55). The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.11 billion. Selective Insurance Group had a net margin of 8.02% and a return on equity of 14.06%. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 EPS. On average, equities analysts anticipate that Selective Insurance Group will post 7.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SIGI shares. Keefe, Bruyette & Woods dropped their target price on Selective Insurance Group from $111.00 to $109.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 6th. Royal Bank of Canada reduced their target price on Selective Insurance Group from $108.00 to $105.00 and set a "sector perform" rating for the company in a research note on Friday, February 2nd. Oppenheimer reissued an "outperform" rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. Piper Sandler reaffirmed a "neutral" rating and issued a $104.00 price target on shares of Selective Insurance Group in a report on Monday, April 1st. Finally, JMP Securities reiterated a "market perform" rating on shares of Selective Insurance Group in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Selective Insurance Group currently has an average rating of "Hold" and an average target price of $105.17.

Insiders Place Their Bets

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.88, for a total transaction of $278,040.88. Following the sale, the chief operating officer now directly owns 10,511 shares of the company's stock, valued at $1,112,904.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.