Selective Insurance Group, Inc. Declares Quarterly Dividend of $0.38 (NASDAQ:SIGI)

Selective Insurance Group, Inc. (NASDAQ:SIGI) declared a quarterly dividend on Wednesday, January 29th,NASDAQ Dividends reports. Investors of record on Friday, February 14th will be given a dividend of 0.38 per share by the insurance provider on Monday, March 3rd. This represents a $1.52 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, February 14th.

Selective Insurance Group has raised its dividend payment by an average of 11.6% annually over the last three years and has raised its dividend every year for the last 11 years. Selective Insurance Group has a payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Selective Insurance Group to earn $8.46 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 18.0%.

Selective Insurance Group Stock Down 0.3 %

SIGI opened at $84.11 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.34. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 26.12 and a beta of 0.61. Selective Insurance Group has a one year low of $80.84 and a one year high of $109.58. The business’s fifty day moving average is $92.38 and its two-hundred day moving average is $92.57.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Analysts anticipate that Selective Insurance Group will post 7.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SIGI shares. Royal Bank of Canada increased their price target on shares of Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $95.00 to $105.00 in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Thursday, January 30th. Morgan Stanley reduced their price objective on Selective Insurance Group from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Bank of America lifted their price objective on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.71.

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.