Selective Insurance Group, Inc. (SIGI) To Go Ex-Dividend on November 15th

Selective Insurance Group, Inc. (NASDAQ:SIGI) announced a quarterly dividend on Friday, October 18th,RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.38 per share by the insurance provider on Monday, December 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35.

Selective Insurance Group has raised its dividend payment by an average of 10.0% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Selective Insurance Group has a payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Selective Insurance Group to earn $7.76 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 19.6%.

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI opened at $99.84 on Wednesday. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The stock has a market capitalization of $6.07 billion, a P/E ratio of 26.91 and a beta of 0.57. The firm has a fifty day simple moving average of $93.08 and a two-hundred day simple moving average of $92.86. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm posted $1.51 earnings per share. Selective Insurance Group’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts expect that Selective Insurance Group will post 3.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SIGI shares. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $104.00 to $99.00 in a report on Monday, July 22nd. Royal Bank of Canada lifted their price objective on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Piper Sandler reduced their price target on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Bank of America boosted their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and an average price target of $101.67.

Insiders Place Their Bets

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

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.