Selective Insurance Group (NASDAQ:SIGI) Releases Earnings Results, Misses Expectations By $0.29 EPS

Selective Insurance Group (NASDAQ:SIGI) issued its quarterly earnings data on Monday. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29), Briefing.com reports. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS.

Selective Insurance Group Price Performance

Shares of SIGI opened at $93.32 on Wednesday. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. Selective Insurance Group has a twelve month low of $81.00 and a twelve month high of $109.58. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $91.53 and a two-hundred day moving average of $93.67.

Selective Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. This is an increase from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.63%. Selective Insurance Group’s dividend payout ratio (DPR) is currently 38.25%.

Analyst Ratings Changes

SIGI has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Keefe, Bruyette & Woods raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. Bank of America increased their price objective on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada dropped their target price on shares of Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating on the stock in a research note on Monday, July 22nd. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.50.

About Selective Insurance Group

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.