Selective Insurance Group (NASDAQ:SIGI) Posts Earnings Results, Beats Estimates By $0.10 EPS

Selective Insurance Group (NASDAQ:SIGI) released its quarterly earnings results on Wednesday. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.10, Briefing.com reports. Selective Insurance Group had a return on equity of 13.98% and a net margin of 8.65%. The firm had revenue of $708.20 million for the quarter, compared to analyst estimates of $707.83 million. During the same quarter last year, the company posted $1.01 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis.

SIGI traded down $0.19 during trading on Friday, reaching $78.01. The company’s stock had a trading volume of 487,840 shares, compared to its average volume of 172,740. Selective Insurance Group has a 52-week low of $56.22 and a 52-week high of $80.04. The firm has a fifty day moving average of $76.18. The company has a market capitalization of $4.45 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.70 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Wednesday, August 14th. Selective Insurance Group’s dividend payout ratio is presently 21.86%.

A number of equities research analysts have weighed in on SIGI shares. BidaskClub raised Selective Insurance Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Selective Insurance Group in a report on Thursday, May 2nd. Finally, ValuEngine raised Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Selective Insurance Group currently has an average rating of “Hold” and an average target price of $65.33.

In other Selective Insurance Group news, Director Cynthia S. Nicholson sold 1,468 shares of Selective Insurance Group stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $71.11, for a total value of $104,389.48. Following the sale, the director now owns 19,859 shares of the company’s stock, valued at approximately $1,412,173.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael H. Lanza sold 6,946 shares of Selective Insurance Group stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $70.90, for a total value of $492,471.40. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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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Earnings History for Selective Insurance Group (NASDAQ:SIGI)

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