Zacks Research Issues Pessimistic Forecast for SIGI Earnings

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Analysts at Zacks Research cut their FY2024 EPS estimates for Selective Insurance Group in a note issued to investors on Monday, November 11th. Zacks Research analyst R. Department now anticipates that the insurance provider will earn $3.65 per share for the year, down from their prior estimate of $3.77. The consensus estimate for Selective Insurance Group’s current full-year earnings is $3.66 per share. Zacks Research also issued estimates for Selective Insurance Group’s Q4 2024 earnings at $2.02 EPS, Q1 2025 earnings at $1.95 EPS, Q2 2025 earnings at $1.75 EPS, Q3 2025 earnings at $1.85 EPS, Q4 2025 earnings at $2.22 EPS, FY2025 earnings at $7.77 EPS, Q1 2026 earnings at $2.44 EPS and Q3 2026 earnings at $2.14 EPS.

SIGI has been the subject of several other reports. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $95.00 to $105.00 in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $104.00 to $99.00 in a research report on Monday, July 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Tuesday, July 23rd. Bank of America boosted their target price on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.67.

Selective Insurance Group Price Performance

Shares of SIGI stock opened at $101.24 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.68 and a beta of 0.57. The business’s fifty day moving average is $92.91 and its 200 day moving average is $92.86. Selective Insurance Group has a twelve month low of $81.00 and a twelve month high of $109.58.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. Selective Insurance Group’s quarterly revenue was up 15.1% compared to the same quarter last year.

Selective Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued 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 1.50%. The ex-dividend date is Friday, November 15th. Selective Insurance Group’s dividend payout ratio is presently 37.74%.

Insider Activity at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total value of $130,024.44. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Selective Insurance Group

A number of large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in Selective Insurance Group in the third quarter worth approximately $27,000. Quest Partners LLC purchased a new position in shares of Selective Insurance Group in the 2nd quarter worth $28,000. GAMMA Investing LLC grew its holdings in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 145 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Selective Insurance Group during the second quarter valued at $44,000. Finally, Lazard Asset Management LLC lifted its holdings in Selective Insurance Group by 245.9% in the first quarter. Lazard Asset Management LLC now owns 1,228 shares of the insurance provider’s stock valued at $134,000 after acquiring an additional 873 shares during the period. 82.88% of the stock is currently owned by institutional investors.

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.