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Selective Insurance Group (SIGI) Scheduled to Post Earnings on Thursday

Selective Insurance Group (NASDAQ: SIGI – Get Rating ) is scheduled to release its earnings data after the market closes on Thursday, February 2nd. Analysts expect that Selective Insurance Group will post earnings of $1.40 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Selective Insurance Group (NASDAQ:SIGI – Get Rating) last released its earnings results on Wednesday, November 2nd. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.17). Selective Insurance Group had a net margin of 6.76% and a return on equity of 12.79%. The business had revenue of $920.70 million for the quarter, compared to analysts’ expectations of $908.21 million. On average, analysts expect that Selective Insurance Group will post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Selective Insurance Group Price Performance

SIGI stock opened at $93.51 on Thursday. The firm has a 50-day moving average price of $91.58 and a 200-day moving average price of $86.97. Selective Insurance Group has a 52-week low of $66.81 and a 52-week high of $98.80. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.15 and a beta of 0.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30, and a current ratio of 0.30.

Selective Insurance Group Raises Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents an annual dividend of $1.20 and a dividend yield of 1.28%. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.28. Selective Insurance Group’s dividend payout ratio (DPR) is 32.00%.

Wall Street Analysts predict growth

Several brokerages recently weighed in on SIGI. Piper Sandler boosted their price target on shares of Selective Insurance Group from $88.00 to $91.00 in a research report on Tuesday, January 10th. Morgan Stanley boosted their price target on shares of Selective Insurance Group from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. StockNews.com began coverage on shares of Selective Insurance Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Janney Montgomery Scott initiated coverage on shares of Selective Insurance Group in a research report on Friday, November 11th. They set a “neutral” rating and a $96.00 price target for the company. Finally, BMO Capital Markets assumed coverage on shares of Selective Insurance Group in a research report on Thursday, January 19th. They set a “market perform” rating and a $90.00 price target for the company.

Insiders place their bets

In other Selective Insurance Group news, Director John Burville sold 2,652 shares of Selective Insurance Group stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares of the company’s stock, valued at approximately $7,990,152.48. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. In other Selective Insurance Group news, Director John Burville sold 2,652 shares of Selective Insurance Group stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $95.52, for a total value of $253,319.04. Following the completion of the sale, the director now owns 83,649 shares of the company’s stock, valued at approximately $7,990,152.48. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. Also, COO Brenda M. Hall sold 2,813 shares of Selective Insurance Group stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $95.11, for a total transaction of $267,544.43. Following the completion of the sale, the chief operating officer now directly owns 18,650 shares of the company’s stock, valued at approximately $1,773,801.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,734 shares of company stock valued at $825,796. Company insiders own 2.00% of the company’s shares.

Institutional inflows and outflows

Several institutional investors and hedge funds have recently modified their holdings of SIGI. Covestor Ltd raised its stake in shares of Selective Insurance Group by 37.3% during the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 203 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Selective Insurance Group during the 1st quarter valued at $201,000. Proficio Capital Partners LLC bought a new position in shares of Selective Insurance Group during the 1st quarter valued at $230,000. Verition Fund Management LLC raised its stake in shares of Selective Insurance Group by 7.9% during the 1st quarter. Verition Fund Management LLC now owns 2,780 shares of the insurance provider’s stock worth $248,000 after acquiring an additional 204 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new position in shares of Selective Insurance Group during the 3rd quarter valued at $284,000. Hedge funds and other institutional investors own 83.85% of the company’s shares.

About Selective Insurance Group

(Get rating)

Selective Insurance Group, Inc offers property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The Standard Commercial Lines segment provides insurance products and services to commercial customers, such as non-profit organizations and local government agencies.

See also

Earnings History for Selective Insurance Group (NASDAQ: SIGI)

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