Boenning Scattergood Equities Analysts Increase Earnings Estimates for Selective Insurance Group, Inc. (NASDAQ:SIGI)

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Boenning Scattergood increased their Q3 2017 earnings per share estimates for shares of Selective Insurance Group in a report issued on Thursday. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will post earnings of $0.83 per share for the quarter, up from their previous forecast of $0.80. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s Q4 2017 earnings at $0.73 EPS, Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.86 EPS and Q4 2018 earnings at $0.78 EPS.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The company had revenue of $614.50 million during the quarter, compared to analyst estimates of $611.62 million. Selective Insurance Group had a net margin of 7.37% and a return on equity of 11.14%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS.

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Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Thursday, April 13th. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Selective Insurance Group in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price objective on shares of Selective Insurance Group in a research note on Tuesday, May 2nd. Seven research analysts have rated the stock with a hold rating, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $47.33.

Selective Insurance Group (NASDAQ SIGI) opened at 50.75 on Friday. The stock has a 50 day moving average of $50.79 and a 200 day moving average of $47.62. Selective Insurance Group has a 12-month low of $34.95 and a 12-month high of $53.75. The firm has a market cap of $2.96 billion, a PE ratio of 17.38 and a beta of 1.45.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. Selective Insurance Group’s dividend payout ratio (DPR) is presently 22.22%.

In other Selective Insurance Group news, Director William M. Rue sold 12,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $52.24, for a total transaction of $626,880.00. Following the completion of the sale, the director now owns 357,164 shares in the company, valued at approximately $18,658,247.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A David Brown sold 6,275 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $50.49, for a total transaction of $316,824.75. Following the sale, the director now owns 21,650 shares of the company’s stock, valued at approximately $1,093,108.50. The disclosure for this sale can be found here. Insiders have sold a total of 31,547 shares of company stock valued at $1,607,089 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund raised its stake in shares of Selective Insurance Group by 0.9% in the second quarter. Texas Permanent School Fund now owns 42,527 shares of the insurance provider’s stock worth $2,128,000 after buying an additional 387 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Selective Insurance Group by 3.6% in the second quarter. Great West Life Assurance Co. Can now owns 84,273 shares of the insurance provider’s stock worth $4,213,000 after buying an additional 2,896 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Selective Insurance Group by 6.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 402,432 shares of the insurance provider’s stock worth $20,142,000 after buying an additional 23,764 shares during the period. Tributary Capital Management LLC raised its stake in shares of Selective Insurance Group by 11.9% in the second quarter. Tributary Capital Management LLC now owns 531,801 shares of the insurance provider’s stock worth $26,617,000 after buying an additional 56,446 shares during the period. Finally, Dubuque Bank & Trust Co. raised its stake in shares of Selective Insurance Group by 8.7% in the second quarter. Dubuque Bank & Trust Co. now owns 7,923 shares of the insurance provider’s stock worth $397,000 after buying an additional 636 shares during the period. Institutional investors and hedge funds own 78.18% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.

Earnings History and Estimates for Selective Insurance Group (NASDAQ:SIGI)

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