Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) announced a quarterly dividend on Wednesday, August 3, Zacks reports. Investors of record on Monday 15th August will receive a dividend of 0.28 per share from the insurance provider on Thursday 1st September. That equates to an annual dividend of $1.12 and a yield of 1.45%. The ex-dividend date of this dividend is Friday August 12th.
The Selective Insurance Group has a payout ratio of 17.5%, which means its dividend is sufficiently backed by earnings. Analysts expect Selective Insurance Group to earn $6.51 per share over the next year, meaning the company should still be able to pay its annual dividend of $1.12 at an expected future payout ratio of 17.2%.
Selective Insurance Group shares up 2.0%
NASDAQ:SIGI was up $1.50 on Friday midday to hit $77.20. The company’s shares had a trading volume of 3,242 shares compared to an average volume of 397,551. The Selective Insurance Group has a 1-year low of $66.81 and a 1-year high of $94.35. The stock has a 50-day moving average of $80.99 and a 200-day moving average of $81.70. The company has a market cap of $4.66 billion, a P/E of 17.73, a price-to-earnings-to-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.
The Selective Insurance Group (NASDAQ:SIGI – Get Rating) last announced its quarterly 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 company had revenue of $846.10 million for the quarter, compared to analyst estimates of $883.09 million. The Selective Insurance Group had a net margin of 7.73% and a return on equity of 12.26%. The company’s quarterly revenue rose 5.2% year over year. For the same period last year, the company reported earnings per share of $1.70. Equity analysts are forecasting that the Selective Insurance Group will report earnings per share of 5.59 for the current year.
Analyst upgrades and downgrades
Separately, Morgan Stanley took over coverage of Selective Insurance Group shares in a research report on Monday, June 27th. They set an “Overweight” rating and price target of $98.00 for the company.
Institutional trading of the Selected Insurance Group
Several hedge funds have recently changed their holdings of SIGI. Jane Street Group LLC increased its position in Selective Insurance Group shares by 46.8% during the first quarter. Jane Street Group LLC now owns 8,264 shares of the insurance provider, valued at $738,000, after purchasing an additional 2,635 shares last quarter. Eaton Vance Management increased its position in Selective Insurance Group shares by 27.0% in the first quarter. Eaton Vance Management now owns 998,842 shares of the insurance provider worth $89,256,000 after purchasing an additional 212,085 shares last quarter. Guggenheim Capital LLC increased its position in Selective Insurance Group shares by 48.0% in the first quarter. Guggenheim Capital LLC now owns 5,021 shares of the insurance provider, valued at $448,000, after purchasing an additional 1,629 shares last quarter. Goldman Sachs Group Inc. increased its position in shares of Selective Insurance Group by 3.2% in the first 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 last quarter. Finally, Captrust Financial Advisors increased its position in shares of Selective Insurance Group by 32.9% during the first quarter. Captrust Financial Advisors now owns 6,514 shares of the insurance provider, valued at $582,000, after purchasing an additional 1,613 shares last quarter. 81.37% of the shares are owned by hedge funds and other institutional investors.
Selected Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services throughout 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 that cover the financial consequences of an accidental loss of an insured’s real estate, personal property and/or income due to the loss of property; and accident insurance products covering the financial consequences of worker injuries and personal injury and/or property damage to third parties, as well as flood insurance products.
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