Selective Insurance Group (NASDAQ:SIGI) Posts Quarterly Earnings Results, Misses Expectations By $0.55 EPS

Selective Insurance Group (NASDAQ:SIGI) posted its quarterly earnings data on Wednesday. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.55), Briefing.com reports. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $1.44 EPS. Selective Insurance Group’s revenue for the quarter was up 16.5% compared to the same quarter last year.

Selective Insurance Group Stock Up 0.7 %

Selective Insurance Group stock traded up $0.64 during midday trading on Friday, hitting $96.41. The stock had a trading volume of 645,244 shares, compared to its average volume of 350,614. The business has a fifty day moving average price of $103.38 and a 200 day moving average price of $102.64. Selective Insurance Group has a 12 month low of $91.99 and a 12 month high of $109.58. The stock has a market cap of $5.86 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.71 and a beta of 0.55. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18.

Selective Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.45%. Selective Insurance Group’s payout ratio is 24.74%.

Insiders Place Their Bets

In related news, COO Brenda M. Hall sold 2,626 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the sale, the chief operating officer now directly owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Keefe, Bruyette & Woods decreased their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Finally, Piper Sandler restated a “neutral” rating and set a $104.00 target price on shares of Selective Insurance Group in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.17.

Selective Insurance Group Company Profile

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.