Selective Insurance Group (NASDAQ:SIGI) announced a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.20 per share by the insurance provider on Tuesday, September 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, August 14th.
Selective Insurance Group has increased its dividend by an average of 9.1% per year over the last three years and has increased its dividend every year for the last 5 years. Selective Insurance Group has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
Shares of SIGI opened at $78.20 on Friday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. Selective Insurance Group has a fifty-two week low of $56.22 and a fifty-two week high of $80.04. The business has a 50 day simple moving average of $76.14.
A number of brokerages have recently weighed in on SIGI. BidaskClub upgraded shares of Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 14th. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Selective Insurance Group in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.33.
In related news, EVP Michael H. Lanza sold 6,946 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia S. Nicholson sold 1,468 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $71.11, for a total transaction of $104,389.48. Following the sale, the director now owns 19,859 shares of the company’s stock, valued at $1,412,173.49. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
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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