Selective Insurance Group (SIGI) Scheduled to Post Quarterly Earnings on Monday

Selective Insurance Group (NASDAQ:SIGI) is scheduled to post its quarterly earnings results after the market closes on Monday, October 21st. Analysts expect Selective Insurance Group to post earnings of $1.68 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.49 by ($2.59). Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $0.99 EPS. On average, analysts expect Selective Insurance Group to post $4 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $93.94 on Monday. The stock has a market capitalization of $5.71 billion, a PE ratio of 16.60, a PEG ratio of 1.52 and a beta of 0.56. The business’s 50 day simple moving average is $89.92 and its 200 day simple moving average is $94.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32. Selective Insurance Group has a one year low of $81.00 and a one year high of $109.58.

Selective Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, August 15th. Selective Insurance Group’s dividend payout ratio is currently 24.73%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Selective Insurance Group from $89.00 to $96.00 and gave the stock an “underperform” rating in a research note on Thursday. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $104.00 to $99.00 in a research note on Monday, July 22nd. Royal Bank of Canada cut their target price on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets lifted their target price on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler cut their price target on Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.50.

Insiders Place Their Bets

In other news, CEO John J. Marchioni bought 2,400 shares of the stock in a transaction dated Monday, July 22nd. The shares were bought at an average cost of $83.56 per share, with a total value of $200,544.00. Following the completion of the transaction, the chief executive officer now directly owns 136,397 shares of the company’s stock, valued at $11,397,333.32. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Selective Insurance Group news, Director Terrence W. Cavanaugh purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $85.85 per share, with a total value of $171,700.00. Following the transaction, the director now owns 20,651 shares in the company, valued at $1,772,888.35. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John J. Marchioni purchased 2,400 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were bought at an average price of $83.56 per share, with a total value of $200,544.00. Following the purchase, the chief executive officer now directly owns 136,397 shares in the company, valued at approximately $11,397,333.32. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

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.