Zacks Research Analysts Boost Earnings Estimates for SIGI

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Analysts at Zacks Research increased their Q2 2028 EPS estimates for Selective Insurance Group in a research report issued to clients and investors on Tuesday, June 23rd. Zacks Research analyst Team now forecasts that the insurance provider will post earnings per share of $2.50 for the quarter, up from their prior estimate of $2.44. The consensus estimate for Selective Insurance Group’s current full-year earnings is $7.81 per share.

Selective Insurance Group (NASDAQ:SIGI) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.29 billion. Selective Insurance Group had a return on equity of 13.71% and a net margin of 8.39%.Selective Insurance Group’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS.

A number of other brokerages have also recently commented on SIGI. Piper Sandler lifted their price objective on Selective Insurance Group from $82.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Selective Insurance Group in a research note on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a report on Monday, March 23rd. Oppenheimer boosted their target price on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods upped their price target on Selective Insurance Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $91.67.

Selective Insurance Group Stock Performance

SIGI stock opened at $98.02 on Thursday. Selective Insurance Group has a twelve month low of $71.75 and a twelve month high of $98.68. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.87 billion, a P/E ratio of 13.41 and a beta of 0.29. The business’s fifty day moving average is $88.70 and its 200-day moving average is $84.34.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 1.8%. Selective Insurance Group’s payout ratio is 23.53%.

Institutional Trading of Selective Insurance Group

A number of large investors have recently made changes to their positions in the company. Lighthouse Investment Partners LLC acquired a new stake in shares of Selective Insurance Group during the third quarter worth about $5,082,000. American Century Companies Inc. lifted its holdings in shares of Selective Insurance Group by 1,299.9% during the 3rd quarter. American Century Companies Inc. now owns 301,965 shares of the insurance provider’s stock valued at $24,480,000 after purchasing an additional 280,395 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Selective Insurance Group by 381.2% in the 4th quarter. SG Americas Securities LLC now owns 28,347 shares of the insurance provider’s stock valued at $2,372,000 after purchasing an additional 22,456 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Selective Insurance Group in the 2nd quarter valued at approximately $468,000. Finally, Comerica Bank grew its position in shares of Selective Insurance Group by 94.8% in the 4th quarter. Comerica Bank now owns 55,955 shares of the insurance provider’s stock valued at $4,682,000 after purchasing an additional 27,236 shares during the period. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.