Boenning Scattergood Equities Analysts Increase Earnings Estimates for Selective Insurance Group (SIGI)
Selective Insurance Group (NASDAQ:SIGI) – Analysts at Boenning Scattergood boosted their Q1 2018 earnings per share estimates for shares of Selective Insurance Group in a research report issued to clients and investors on Thursday. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will post earnings per share of $0.87 for the quarter, up from their previous estimate of $0.75. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s Q2 2018 earnings at $0.93 EPS and Q4 2018 earnings at $0.93 EPS.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, October 25th. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $621.30 million for the quarter, compared to analyst estimates of $625.80 million. Selective Insurance Group had a return on equity of 11.00% and a net margin of 7.36%. Selective Insurance Group’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS.
Selective Insurance Group (NASDAQ SIGI) opened at $57.85 on Friday. The company has a market capitalization of $3,369.18, a P/E ratio of 19.22, a P/E/G ratio of 1.54 and a beta of 1.45. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. Selective Insurance Group has a 52-week low of $38.50 and a 52-week high of $62.40.
A number of large investors have recently bought and sold shares of SIGI. Goldman Sachs Group Inc. raised its position in Selective Insurance Group by 130.3% during the second quarter. Goldman Sachs Group Inc. now owns 995,781 shares of the insurance provider’s stock valued at $49,838,000 after buying an additional 563,487 shares during the period. Northern Trust Corp raised its position in Selective Insurance Group by 16.2% during the second quarter. Northern Trust Corp now owns 1,359,536 shares of the insurance provider’s stock valued at $68,044,000 after buying an additional 189,401 shares during the period. Vanguard Group Inc. raised its position in Selective Insurance Group by 1.6% during the second quarter. Vanguard Group Inc. now owns 5,296,404 shares of the insurance provider’s stock valued at $265,086,000 after buying an additional 81,335 shares during the period. Shell Asset Management Co. raised its position in Selective Insurance Group by 213.8% during the third quarter. Shell Asset Management Co. now owns 93,462 shares of the insurance provider’s stock valued at $2,069,000 after buying an additional 63,676 shares during the period. Finally, State Street Corp raised its position in Selective Insurance Group by 3.9% during the second quarter. State Street Corp now owns 1,414,041 shares of the insurance provider’s stock valued at $70,766,000 after buying an additional 53,087 shares during the period. 77.76% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John Burville sold 1,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $58.76, for a total transaction of $58,760.00. Following the transaction, the director now directly owns 82,898 shares of the company’s stock, valued at $4,871,086.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul D. Bauer sold 28,840 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $61.14, for a total value of $1,763,277.60. The disclosure for this sale can be found here. Insiders have sold 45,375 shares of company stock worth $2,740,784 over the last three months. 3.00% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.24%. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, November 14th. Selective Insurance Group’s payout ratio is presently 23.92%.
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.
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