Selective Insurance Group, Inc. (NASDAQ:SIGI) Declares Quarterly Dividend of $0.43

Key Points

• Selective declared a quarterly dividend of $0.43 per share, payable June 1 to shareholders of record on May 15 (annualized $1.72, ~2.2% yield); the company has raised its dividend for 11 consecutive years and carries a low payout ratio (~20.5%), suggesting the dividend is well covered by earnings.
• The company missed the latest quarter with EPS $1.69 versus $1.81 expected and revenue of $1.23 billion (vs. $1.29B expected) despite 5.7% YoY revenue growth; analysts have a consensus "Hold" rating and an average price target of $83.60, with the shares trading around a P/E of ~10.4.

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) announced a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Friday, May 15th will be paid a dividend of 0.43 per share by the insurance provider on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, May 15th.

Selective Insurance Group has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 11 years. Selective Insurance Group has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Selective Insurance Group to earn $8.78 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.6%.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock opened at $77.63 on Thursday. Selective Insurance Group has a 52-week low of $71.75 and a 52-week high of $93.38. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 10.36 and a beta of 0.26. The company has a fifty day moving average of $79.81 and a 200-day moving average of $80.93. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period last year, the company posted $1.76 EPS. Selective Insurance Group's revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that Selective Insurance Group will post 7.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SIGI. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $95.00 price objective on shares of Selective Insurance Group in a research note on Monday, March 23rd. Piper Sandler raised their price objective on Selective Insurance Group from $79.00 to $86.00 and gave the company a "neutral" rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods reduced their price objective on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Selective Insurance Group in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $83.60.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company's core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.

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