Selective Insurance Group (NASDAQ:SIGI) Releases Earnings Results

Selective Insurance Group (NASDAQ:SIGI) posted its earnings results on Thursday. The insurance provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59), Briefing.com reports. Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $0.99 earnings per share.

Selective Insurance Group Price Performance

SIGI stock traded down $14.62 during trading on Friday, hitting $85.70. The stock had a trading volume of 489,327 shares, compared to its average volume of 312,648. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50-day moving average price is $94.71 and its two-hundred day moving average price is $99.90. Selective Insurance Group has a twelve month low of $83.39 and a twelve month high of $109.58. The stock has a market capitalization of $5.21 billion, a P/E ratio of 15.44, a PEG ratio of 0.92 and a beta of 0.54.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.63%. The ex-dividend date was Tuesday, May 14th. Selective Insurance Group’s payout ratio is 24.74%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SIGI. Royal Bank of Canada restated a “sector perform” rating and set a $103.00 target price on shares of Selective Insurance Group in a research report on Monday, June 24th. Piper Sandler restated a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. Bank of America dropped their target price on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating on the stock in a research report on Thursday, July 11th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective on shares of Selective Insurance Group in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.60.

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.