Selective Insurance Group Plans Quarterly Dividend of $0.20 (SIGI)

Selective Insurance Group (NASDAQ:SIGI) declared a quarterly dividend on Wednesday, May 1st, NASDAQ reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.20 per share by the insurance provider on Monday, June 3rd. This represents a $0.80 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, May 14th.

Selective Insurance Group has increased its dividend by an average of 9.1% annually over the last three years and has increased its dividend every year for the last 5 years. Selective Insurance Group has a dividend payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Selective Insurance Group to earn $4.45 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 18.0%.

SIGI opened at $71.53 on Monday. The firm has a market cap of $4.19 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.60 and a beta of 0.99. Selective Insurance Group has a fifty-two week low of $53.55 and a fifty-two week high of $72.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $697.30 million. Selective Insurance Group had a net margin of 8.32% and a return on equity of 13.72%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. As a group, research analysts predict that Selective Insurance Group will post 4.16 EPS for the current year.

In other Selective Insurance Group news, CEO Gregory E. Murphy sold 5,000 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $66.25, for a total transaction of $331,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael H. Lanza sold 6,946 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $70.90, for a total transaction of $492,471.40. The disclosure for this sale can be found here. Insiders have sold 38,803 shares of company stock valued at $2,665,611 in the last quarter. 2.00% of the stock is owned by company insiders.

Several equities analysts recently weighed in on SIGI shares. BidaskClub raised shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. ValuEngine cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, February 12th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Selective Insurance Group in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $65.33.

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About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.

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Dividend History for Selective Insurance Group (NASDAQ:SIGI)

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